| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 0/6 |
| Past Performance | 4/6 |
| Financial Health | 4/6 |
| Dividends | 2/6 |
MHF Stock Overview
Western Asset Municipal High Income Fund Inc.
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$7.36 |
| 52 Week High | US$8.91 |
| 52 Week Low | US$7.35 |
| Beta | 0.20 |
| 1 Month Change | -7.89% |
| 3 Month Change | -12.90% |
| 1 Year Change | -5.03% |
| 3 Year Change | 2.94% |
| 5 Year Change | 0.68% |
| Change since IPO | -23.53% |
Recent News & Updates
Western Asset Municipal High Income Fund declares $0.0218 dividend
Western Asset Municipal High Income Fund (MHF) declares $0.0218/share monthly dividend, in line with previous.Forward yield 3.55%Payable Dec. 31; for shareholders of record Dec. 23; ex-div Dec. 22.Payable Feb. 1; for shareholders of record Jan. 22; ex-div Jan. 21.Payable Mar. 1; for shareholders of record Feb. 19; ex-div Feb. 18.See MHF Dividend Scorecard, Yield Chart, & Dividend Growth.
Shareholder Returns
| MHF | US Capital Markets | US Market | |
|---|---|---|---|
| 7D | -5.0% | -5.5% | -4.6% |
| 1Y | -5.0% | 24.6% | 7.7% |
Return vs Industry: MHF underperformed the US Capital Markets industry which returned 24.6% over the past year.
Return vs Market: MHF underperformed the US Market which returned 7.7% over the past year.
Price Volatility
| MHF volatility | |
|---|---|
| MHF Average Weekly Movement | 2.1% |
| Capital Markets Industry Average Movement | 0.7% |
| Market Average Movement | 6.6% |
| 10% most volatile stocks in US Market | 15.7% |
| 10% least volatile stocks in US Market | 2.4% |
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.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1988 | n/a | Ken Fuller | https://individualinvestor.myleggmason.com/portal/server.pt?open=512&objID=1434&cached=true&mode=2&userID=355661&mktcd=MHF |
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. The fund invests in the fixed income markets of the United States.
Western Asset Municipal High Income Fund Fundamentals Summary
| MHF fundamental statistics | |
|---|---|
| Market Cap | US$159.22m |
| Earnings (TTM) | US$8.96m |
| Revenue (TTM) | US$6.77m |
17.8x
P/E Ratio23.5x
P/S RatioIs MHF overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MHF income statement (TTM) | |
|---|---|
| Revenue | US$6.77m |
| Cost of Revenue | US$0 |
| Gross Profit | US$6.77m |
| Expenses | -US$2.19m |
| Earnings | US$8.96m |
Last Reported Earnings
Oct 31, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.41 |
| Gross Margin | 100.00% |
| Net Profit Margin | 132.29% |
| Debt/Equity Ratio | 0.8% |
How did MHF perform over the long term?
See historical performance and comparisonDividends
3.2%
Current Dividend Yield63%
Payout RatioDoes MHF pay a reliable dividends?
See MHF dividend history and benchmarks| Western Asset Municipal High Income Fund dividend dates | |
|---|---|
| Ex Dividend Date | Jan 21 2022 |
| Dividend Pay Date | Feb 01 2022 |
| Days until Ex dividend | 0 days |
| Days until Dividend pay date | 11 days |
Does MHF pay a reliable dividends?
See MHF dividend history and benchmarksValuation
Is Western Asset Municipal High Income Fund undervalued compared to its fair value and its price relative to the market?
17.77x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MHF ($7.36) is trading above our estimate of fair value ($4.95)
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 (17.8x) compared to the US Capital Markets industry average (15.2x).
PE vs Market: MHF is poor value based on its PE Ratio (17.8x) compared to the US market (16.9x).
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 (0.9x) compared to the US Capital Markets industry average (37.6x).
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?
6.3%
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?
21.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MHF has a large one-off gain of $3.4M impacting its October 31 2021 financial results.
Growing Profit Margin: MHF's current net profit margins are higher than last year (32.6%).
Past Earnings Growth Analysis
Earnings Trend: MHF's earnings have grown significantly by 21.7% per year over the past 5 years.
Accelerating Growth: MHF's earnings growth over the past year (290.8%) exceeds its 5-year average (21.7% per year).
Earnings vs Industry: MHF earnings growth over the past year (290.8%) exceeded the Capital Markets industry 87.1%.
Return on Equity
High ROE: MHF's Return on Equity (5.2%) 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 ($3.3M) exceed its short term liabilities ($2.4M).
Long Term Liabilities: MHF's short term assets ($3.3M) exceed its long term liabilities ($1.3M).
Debt to Equity History and Analysis
Debt Level: MHF's net debt to equity ratio (0.8%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if MHF's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: Insufficient data to determine if MHF's debt is well covered by operating cash flow.
Interest Coverage: MHF's interest payments on its debt are well covered by EBIT (745.3x coverage).
Balance Sheet
Dividend
What is Western Asset Municipal High Income Fund current dividend yield, its reliability and sustainability?
3.23%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MHF's dividend (3.23%) is higher than the bottom 25% of dividend payers in the US market (1.34%).
High Dividend: MHF's dividend (3.23%) is low compared to the top 25% of dividend payers in the US market (3.49%).
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 reasonable payout ratio (63.2%), MHF's dividend payments are 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?
15.0yrs
Average board tenure
CEO
Ken Fuller (63 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. He serve...
Board Members
Experienced Board: MHF's board of directors are seasoned and experienced ( 15 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 employee growth, exchange listings and data sources
Key Information
- Name: Western Asset Municipal High Income Fund Inc.
- Ticker: MHF
- Exchange: NYSE
- Founded: 1988
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Implied Market Cap: US$159.218m
- Shares outstanding: 21.63m
- Website: https://individualinvestor.myleggmason.com/portal/server.pt?open=512&objID=1434&cached=true&mode=2&userID=355661&mktcd=MHF
Location
- Western Asset Municipal High Income Fund Inc.
- 620 Eighth Avenue
- 49th Floor
- New York
- New York
- 10018
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/21 00:03 |
| End of Day Share Price | 2022/01/20 00:00 |
| Earnings | 2021/10/31 |
| Annual Earnings | 2021/10/31 |
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.