NYSE:HIX

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Western Asset High Income Fund II

Executive Summary

Western Asset High Income Fund II Inc. is a closed-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. More Details


Snowflake Analysis

Share Price & News

How has Western Asset High Income Fund II's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HIX is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: HIX's weekly volatility (1%) has been stable over the past year.


Market Performance


7 Day Return

0%

HIX

1.0%

US Capital Markets

-0.7%

US Market


1 Year Return

3.6%

HIX

38.8%

US Capital Markets

36.6%

US Market

Return vs Industry: HIX underperformed the US Capital Markets industry which returned 38.8% over the past year.

Return vs Market: HIX underperformed the US Market which returned 36.6% over the past year.


Shareholder returns

HIXIndustryMarket
7 Day0%1.0%-0.7%
30 Day0.4%10.8%4.3%
90 Day-3.0%17.0%8.1%
1 Year14.1%3.6%42.2%38.8%39.6%36.6%
3 Year34.4%3.0%40.1%29.7%53.5%43.7%
5 Year70.9%8.7%152.2%121.0%123.7%98.8%

Long-Term Price Volatility Vs. Market

How volatile is Western Asset High Income Fund II's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Western Asset High Income Fund II undervalued compared to its fair value and its price relative to the market?

79.08x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate HIX's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate HIX's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: HIX is poor value based on its PE Ratio (79.1x) compared to the US Capital Markets industry average (22.8x).

PE vs Market: HIX is poor value based on its PE Ratio (79.1x) compared to the US market (21.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: HIX is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (15x).

Future Growth

How is Western Asset High Income Fund II forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

13.7%

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 Western Asset High Income Fund II 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 Western Asset High Income Fund II performed over the past 5 years?

-1.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HIX has a large one-off loss of $38.1M impacting its October 31 2020 financial results.

Growing Profit Margin: HIX's current net profit margins (12.8%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: HIX has become profitable over the past 5 years, growing earnings by -1.2% per year.

Accelerating Growth: HIX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: HIX had negative earnings growth (-88.7%) over the past year, making it difficult to compare to the Capital Markets industry average (10.4%).


Return on Equity

High ROE: HIX's Return on Equity (1.3%) is considered low.

Financial Health

How is Western Asset High Income Fund II's financial position?


Financial Position Analysis

Short Term Liabilities: HIX's short term assets ($18.5M) do not cover its short term liabilities ($199.1M).

Long Term Liabilities: HIX has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: HIX's debt to equity ratio (32.4%) is considered satisfactory.

Reducing Debt: HIX's debt to equity ratio has reduced from 37.2% to 32.4% over the past 5 years.

Debt Coverage: HIX's debt is well covered by operating cash flow (69.2%).

Interest Coverage: HIX's interest payments on its debt are well covered by EBIT (13.6x coverage).


Balance Sheet

Dividend

What is Western Asset High Income Fund II current dividend yield, its reliability and sustainability?

8.57%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: HIX's dividend (8.57%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: HIX's dividend (8.57%) is in the top 25% of dividend payers in the US market (3.72%)


Stability and Growth of Payments

Stable Dividend: HIX's dividend payments have been volatile in the past 10 years.

Growing Dividend: HIX's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (676.1%), HIX's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

16.6yrs

Average board tenure


CEO

Ken Fuller (62 yo)

7.75yrs

Tenure

Mr. Kenneth Donald Fuller, also known as Ken, has been Chief Executive Officer and President of Western Asset High Income Opportunity Fund Inc. and LMP Corporate Loan Fund Inc. since June 1, 2013. Mr. Full...


Board Members

NamePositionTenureCompensationOwnership
Kenneth Fuller
Chairman7.75yrsno datano data
William Hutchinson
Lead Independent Director6.83yrsUS$16.48kno data
Paolo Cucchi
Non-Interested Director14yrsUS$13.98kno data
Eileen Kamerick
Non-Interested Director8.08yrsUS$13.98k0.0014%
$ 8.2k
Carol Colman
Non-Interested Director19.17yrsUS$15.30kno data
Leslie Gelb
Non-Interested Director20.17yrsUS$13.98kno data
Daniel Cronin
Non-Interested Director19.17yrsUS$15.30kno data
Riordan Roett
Non-Interested Director23.17yrsUS$13.98kno data

16.6yrs

Average Tenure

76yo

Average Age

Experienced Board: HIX's board of directors are seasoned and experienced ( 16.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: HIX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Western Asset High Income Fund II Inc.'s company bio, employee growth, exchange listings and data sources


Key Information


Location

  • Western Asset High Income Fund II Inc.
  • 620 Eighth Avenue
  • 49th Floor
  • New York
  • New York
  • 10018
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HIXNYSE (New York Stock Exchange)YesCommon StockUSUSDMay 1998

Biography

Western Asset High Income Fund II Inc. is a closed-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/03 00:34
End of Day Share Price2021/03/02 00:00
Earnings2020/10/31
Annual Earnings2020/04/30


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.