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NMZ

Nuveen Municipal High Income Opportunity Fund NYSE:NMZ Stock Report

Last Price

US$11.67

Market Cap

US$1.1b

7D

1.4%

1Y

-21.8%

Updated

24 May, 2022

Data

Company Financials
NMZ fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance2/6
Financial Health2/6
Dividends4/6

NMZ Stock Overview

Nuveen Municipal High Income Opportunity Fund is a closed-end fixed income mutual fund launched by Nuveen Investments Inc.

Nuveen Municipal High Income Opportunity Fund Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Nuveen Municipal High Income Opportunity Fund
Historical stock prices
Current Share PriceUS$11.67
52 Week HighUS$15.86
52 Week LowUS$11.10
Beta0.37
1 Month Change-3.55%
3 Month Change-13.11%
1 Year Change-21.83%
3 Year Change-15.62%
5 Year Change-13.11%
Change since IPO-23.48%

Recent News & Updates

Nov 20

NMZ: Reaching For Yield Through Munis Can Make Sense

NMZ has performed well in 2021, and there are reasons to suggest that can continue in the new year. High yield munis make up over half this portfolio, and that sub-sector has been out-performing the broader muni index as the economic recovery continues. Duration risk is still elevated, so while I am optimistic on this space, I would not get too aggressive until yields rise a little bit. The recent spending bill includes a SALT provision raising the deduction cap significantly. While this is not law yet, and very well might change, that is not positive for munis.

Oct 22

NMZ: A Good Choice For A Rising Rate World

Nuveen Municipal High Income Opportunity Fund goes down the rating scale to provide investors with greater income. History shows this has paid off when rates go up. While lower-rated bonds are deemed to be more risky by the Rating Agencies, the risk of non-payment is still very small. This article will review NMZ in detail and provide data to back up the two points mentioned above. For investors wanting/needing tax-free income, I give NMZ a Bullish rating.

Jan 05

Nuveen Municipal High Income Opportunity Fund declares $0.062 dividend

Nuveen Municipal High Income Opportunity Fund (NMZ) declares $0.062/share monthly dividend, in line with previous.Forward yield 5.24%Payable Feb. 1; for shareholders of record Jan. 15; ex-div Jan. 14.See NMZ Dividend Scorecard, Yield Chart, & Dividend Growth.

Dec 01

NMZ: Offering A Very Competitive After-Tax Yield

Main Thesis The purpose of this article is to evaluate the Nuveen Municipal High Income Opportunity Fund (NMZ) as an investment option at its current market price. This fund owns high yield muni bonds, which is a sector I got a bit more cautious on during the summer. Fortunately, my caution was not really necessary, as the economic rebound and government stimulus measures surpassed expectations, helping to lift the broader market to all-time highs. Looking

Nov 03

Nuveen Municipal High Income Opportunity Fund declares $0.062 dividend

Nuveen Municipal High Income Opportunity Fund (NMZ) declares $0.062/share monthly dividend, in line with previous.Forward yield 5.6%Payable Dec. 1; for shareholders of record Nov. 13; ex-div Nov. 12.See NMZ Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

NMZUS Capital MarketsUS Market
7D1.4%-0.9%-4.0%
1Y-21.8%-14.0%-13.2%

Return vs Industry: NMZ underperformed the US Capital Markets industry which returned -13.5% over the past year.

Return vs Market: NMZ underperformed the US Market which returned -12.3% over the past year.

Price Volatility

Is NMZ's price volatile compared to industry and market?
NMZ volatility
NMZ Average Weekly Movement2.1%
Capital Markets Industry Average Movement0.5%
Market Average Movement7.8%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market2.9%

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

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

About the Company

FoundedEmployeesCEOWebsite
2003n/an/ahttps://www.nuveen.com/CEF/Product/Overview.aspx?FundCode=NMZ&refsrc=vu_nuveen.com/nmz

Nuveen Municipal High Income Opportunity Fund is a closed-end fixed income mutual fund launched by Nuveen Investments Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade tax-exempt municipal securities.

Nuveen Municipal High Income Opportunity Fund Fundamentals Summary

How do Nuveen Municipal High Income Opportunity Fund's earnings and revenue compare to its market cap?
NMZ fundamental statistics
Market CapUS$1.14b
Earnings (TTM)US$171.93m
Revenue (TTM)US$83.39m

6.6x

P/E Ratio

13.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NMZ income statement (TTM)
RevenueUS$83.39m
Cost of RevenueUS$0
Gross ProfitUS$83.39m
Other Expenses-US$88.54m
EarningsUS$171.93m

Last Reported Earnings

Oct 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.76
Gross Margin100.00%
Net Profit Margin206.18%
Debt/Equity Ratio51.1%

How did NMZ perform over the long term?

See historical performance and comparison

Dividends

6.7%

Current Dividend Yield

43%

Payout Ratio

Valuation

Is Nuveen Municipal High Income Opportunity Fund undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


24.9%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: NMZ ($11.67) is trading below our estimate of fair value ($15.54)

Significantly Below Fair Value: NMZ is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: NMZ is good value based on its Price-To-Earnings Ratio (6.6x) compared to the US Capital Markets industry average (30.5x).

PE vs Market: NMZ is good value based on its Price-To-Earnings Ratio (6.6x) compared to the US market (15.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: NMZ is overvalued based on its Price-To-Book Ratio (0.8x) compared to the US Capital Markets industry average (-17.7x).

Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


9.7%

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 Nuveen Municipal High Income Opportunity 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 Municipal High Income Opportunity Fund performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


33.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NMZ has a high level of non-cash earnings.

Growing Profit Margin: NMZ became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: NMZ's earnings have grown significantly by 33.9% per year over the past 5 years.

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

Earnings vs Industry: NMZ has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (98.3%).


Return on Equity

High ROE: NMZ's Return on Equity (12.2%) is considered low.

Financial Health

How is Nuveen Municipal High Income Opportunity Fund's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: NMZ's short term assets ($38.2M) do not cover its short term liabilities ($491.5M).

Long Term Liabilities: NMZ's short term assets ($38.2M) do not cover its long term liabilities ($256.6M).


Debt to Equity History and Analysis

Debt Level: NMZ's net debt to equity ratio (39.7%) is considered satisfactory.

Reducing Debt: NMZ's debt to equity ratio has increased from 28.5% to 51.1% over the past 5 years.

Debt Coverage: NMZ's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: NMZ's interest payments on its debt are well covered by EBIT (15.1x coverage).


Balance Sheet

Dividend

What is Nuveen Municipal High Income Opportunity Fund current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


6.68%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NMZ's dividend (6.68%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: NMZ's dividend (6.68%) is in the top 25% of dividend payers in the US market (4.05%)


Stability and Growth of Payments

Stable Dividend: NMZ's dividends per share have been stable in the past 10 years.

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


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (43%), NMZ's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: NMZ is paying a dividend but the company has no free cash flows.

Management

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

16.3yrs

Average board tenure


CEO

Nuveen Municipal High Income Opportunity Fund has no CEO, or we have no data on them.


Board Members

Experienced Board: NMZ's board of directors are seasoned and experienced ( 16.3 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 been diluted in the past year, with total shares outstanding growing by 16%.


Top Shareholders

Company Information

Nuveen Municipal High Income Opportunity Fund's employee growth, exchange listings and data sources


Key Information


Location

  • Nuveen Municipal High Income Opportunity Fund
  • 333 West Wacker Drive
  • Chicago
  • Illinois
  • 60606
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/24 00:00
End of Day Share Price2022/05/24 00:00
Earnings2021/10/31
Annual Earnings2021/10/31


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.