NYSE:NNC

Stock Analysis Report

Nuveen North Carolina Quality Municipal Income Fund

Executive Summary

Nuveen North Carolina Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc.

Rewards


Snowflake Analysis

Share Price & News

How has Nuveen North Carolina Quality Municipal Income Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: NNC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.4%

NNC

1.9%

US Capital Markets

0.6%

US Market


1 Year Return

16.9%

NNC

19.9%

US Capital Markets

24.6%

US Market

Return vs Industry: NNC underperformed the US Capital Markets industry which returned 21.7% over the past year.

Return vs Market: NNC underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

NNCIndustryMarket
7 Day-0.4%1.9%0.6%
30 Day0.4%4.3%3.0%
90 Day-0.2%13.5%10.6%
1 Year21.0%16.9%22.4%19.9%27.3%24.6%
3 Year17.0%4.3%44.8%36.7%50.5%40.8%
5 Year29.3%5.2%100.6%82.1%78.9%59.1%

Price Volatility Vs. Market

How volatile is Nuveen North Carolina Quality Municipal Income Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Nuveen North Carolina Quality Municipal Income Fund undervalued compared to its fair value and its price relative to the market?

13.18x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: NNC ($13.66) is trading above our estimate of fair value ($0.42)

Significantly Below Fair Value: NNC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NNC is good value based on its PE Ratio (13.2x) compared to the Capital Markets industry average (36.1x).

PE vs Market: NNC is good value based on its PE Ratio (13.2x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NNC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: NNC is good value based on its PB Ratio (0.9x) compared to the US Capital Markets industry average (6.6x).

Future Growth

How is Nuveen North Carolina Quality Municipal Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.4%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Nuveen North Carolina Quality Municipal Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Nuveen North Carolina Quality Municipal Income Fund performed over the past 5 years?

-30.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NNC has a large one-off gain of $9.0M impacting its May 31 2019 financial results.

Growing Profit Margin: NNC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: NNC's earnings have declined by -30.3% per year over the past 5 years.

Accelerating Growth: NNC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: NNC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (20.6%).


Return on Equity

High ROE: NNC's Return on Equity (6.9%) is considered low.


Return on Assets


Return on Capital Employed

Financial Health

How is Nuveen North Carolina Quality Municipal Income Fund's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: NNC has a low level of unsold assets or inventory.

Debt Coverage by Assets: NNC's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: NNC's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if NNC has a sufficient allowance for bad loans.

Low Risk Liabilities: NNC reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if NNC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: NNC has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if NNC has an appropriate level of bad loans.

Dividend

What is Nuveen North Carolina Quality Municipal Income Fund's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage1.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate NNC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate NNC's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if NNC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if NNC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: NNC is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of NNC's dividend in 3 years as they are not forecast to pay a notable one for the US market.

Management

What is the CEO of Nuveen North Carolina Quality Municipal Income Fund's salary, the management and board of directors tenure and is there insider trading?

13.8yrs

Average board tenure


CEO

Nuveen North Carolina Quality Municipal Income Fund has no CEO, or we have no data on them.


Board Age and Tenure

13.8yrs

Average Tenure

72yo

Average Age

Experienced Board: NNC's board of directors are seasoned and experienced ( 13.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Stephen Foy (65yo)

    Vice President and Controller

    • Giff Zimmerman (63yo)

      Co-General Counsel

      • Lorna Ferguson (74yo)

        Vice President

        • Bill Adams (63yo)

          Vice President and Trustee

          • Tenure: 6.8yrs
        • Kathleen Prudhomme (66yo)

          Vice President and Assistant Secretary

          • Tina Lazar (58yo)

            Vice President

            • Scott Grace (49yo)

              Vice President and Treasurer

              • Walter Kelly (49yo)

                Chief Compliance Officer and Vice President

                • Cedric Antosiewicz (57yo)

                  Vice President

                  • Kevin McCarthy (53yo)

                    Vice President and Secretary


                    Board Members

                    • David Kundert (77yo)

                      Independent Trustee

                      • Tenure: 14.8yrs
                      • Compensation: US$1.02k
                    • Bill Adams (63yo)

                      Vice President and Trustee

                      • Tenure: 6.8yrs
                    • Bill Schneider (75yo)

                      Independent Chairman

                      • Tenure: 6.3yrs
                      • Compensation: US$1.25k
                    • Robert Bremner (79yo)

                      Independent Trustee

                      • Tenure: 23.8yrs
                      • Compensation: US$1.23k
                    • Judith Stockdale (72yo)

                      Independent Trustee

                      • Tenure: 22.8yrs
                      • Compensation: US$986.00
                    • Jack Evans (71yo)

                      Independent Trustee

                      • Tenure: 20.8yrs
                      • Compensation: US$958.00
                    • Virginia Stringer (75yo)

                      Independent Trustee

                      • Tenure: 8.8yrs
                      • Compensation: US$874.00
                    • William Hunter (71yo)

                      Independent Trustee

                      • Tenure: 15.8yrs
                      • Compensation: US$864.00
                    • Terry Toth (60yo)

                      Independent Trustee

                      • Tenure: 11.8yrs
                      • Compensation: US$1.03k
                    • Carole Stone (72yo)

                      Independent Trustee

                      • Tenure: 12.8yrs
                      • Compensation: US$993.00

                    Company Information

                    Nuveen North Carolina Quality Municipal Income Fund's company bio, employee growth, exchange listings and data sources


                    Key Information


                    Location

                    • Nuveen North Carolina Quality Municipal Income Fund
                    • 333 West Wacker Drive
                    • Chicago
                    • Illinois
                    • 60606
                    • United States

                    Listings

                    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
                    NNCNYSE (New York Stock Exchange)YesCommon SharesUSUSDMay 1993

                    Biography

                    Nuveen North Carolina Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of North Carolina. The fund invests in tax exempt municipal bonds, with a rating of Baa/BBB or higher. It employs fundamental analysis, with bottom-up stock picking approach, to create its portfolio. The fund benchmarks the performance of its portfolio against the Standard & Poor’s North Carolina Municipal Bond Index and Standard & Poor’s National Municipal Bond Index. The fund was formerly known as Nuveen North Carolina Premium Income Municipal Fund. Nuveen North Carolina Quality Municipal Income Fund was formed on May 20, 1993 and is domiciled in the United States. 


                    Company Analysis and Financial Data Status

                    All financial data provided by Standard & Poor's Capital IQ.
                    DataLast Updated (UTC time)
                    Company Analysis2019/11/19 00:04
                    End of Day Share Price2019/11/15 00:00
                    Earnings2019/05/31
                    Annual Earnings2019/05/31


                    Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.