NYSE:MHF

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Western Asset Municipal High Income Fund

Executive Summary

Western Asset Municipal High Income Fund Inc. More Details


Snowflake Analysis

Share Price & News

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


Latest Share Price and Events

Stable Share Price: MHF is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: MHF's weekly volatility (2%) has been stable over the past year.


Market Performance


7 Day Return

-3.4%

MHF

0.2%

US Capital Markets

-1.4%

US Market


1 Year Return

-3.5%

MHF

33.4%

US Capital Markets

37.1%

US Market

Return vs Industry: MHF underperformed the US Capital Markets industry which returned 29% over the past year.

Return vs Market: MHF underperformed the US Market which returned 34.1% over the past year.


Shareholder returns

MHFIndustryMarket
7 Day-3.4%0.2%-1.4%
30 Day-0.8%7.6%1.6%
90 Day3.2%18.4%7.3%
1 Year0.2%-3.5%36.8%33.4%40.2%37.1%
3 Year19.5%5.9%41.4%30.9%62.5%52.1%
5 Year21.9%-0.5%152.2%120.9%133.9%108.0%

Long-Term Price Volatility Vs. Market

How volatile is Western Asset Municipal High 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 Western Asset Municipal High Income Fund undervalued compared to its fair value and its price relative to the market?

72.67x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MHF ($7.7) is trading above our estimate of fair value ($0.17)

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


Price To Earnings Ratio

PE vs Industry: MHF is poor value based on its PE Ratio (72.7x) compared to the US Capital Markets industry average (23.8x).

PE vs Market: MHF is poor value based on its PE Ratio (72.7x) compared to the US market (21.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MHF is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (10.6x).

Future Growth

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

13.4%

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

-9.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MHF has a large one-off loss of $2.9M impacting its October 31 2020 financial results.

Growing Profit Margin: MHF's current net profit margins (32.6%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: MHF's earnings have declined by 9.8% per year over the past 5 years.

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

Earnings vs Industry: MHF had negative earnings growth (-84.3%) over the past year, making it difficult to compare to the Capital Markets industry average (7.6%).


Return on Equity

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

Financial Health

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


Financial Position Analysis

Short Term Liabilities: MHF's short term assets ($2.6M) exceed its short term liabilities ($2.3M).

Long Term Liabilities: MHF has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: MHF is debt free.

Reducing Debt: MHF has not had any debt for past 5 years.

Debt Coverage: MHF has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MHF has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Dividend

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

3.40%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: MHF's dividend (3.4%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: MHF's dividend (3.4%) is low compared to the top 25% of dividend payers in the US market (3.75%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (278.6%), MHF'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?

14.1yrs

Average board tenure


CEO

Ken Fuller (62 yo)

no data

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
Chairmanno datano datano data
William Hutchinson
Lead Independent Director6.75yrsUS$3.70kno data
Martin Brody
Director Emeritusno dataUS$5.25kno data
Paolo Cucchi
Director20.08yrsUS$3.09k0.013%
$ 20.7k
Eileen Kamerick
Director8yrsUS$3.38kno data
Carol Colman
Director14.08yrsUS$3.46kno data
Leslie Gelb
Director14.08yrsUS$3.09kno data
Daniel Cronin
Director14.08yrsUS$3.46kno data
Robert Agdern
Director6.08yrsno datano data
Riordan Roett
Director14.08yrsUS$3.09kno data

14.1yrs

Average Tenure

76yo

Average Age

Experienced Board: MHF's board of directors are seasoned and experienced ( 14.1 years average tenure).


Ownership

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


Insider Trading Volume

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.


Top Shareholders

Company Information

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


Key Information


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MHFNYSE (New York Stock Exchange)YesCommon SharesUSUSDNov 1988

Biography

Western Asset Municipal High Income Fund Inc. is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It 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 Analysis2021/02/24 23:12
End of Day Share Price2021/02/24 00:00
Earnings2020/10/31
Annual Earnings2020/10/31


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.