| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 2/6 |
| Dividends | 4/6 |
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
| Historical stock prices | |
|---|---|
| Current Share Price | US$11.67 |
| 52 Week High | US$15.86 |
| 52 Week Low | US$11.10 |
| Beta | 0.37 |
| 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
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.
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.
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.
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
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
| NMZ | US Capital Markets | US Market | |
|---|---|---|---|
| 7D | 1.4% | -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
| NMZ volatility | |
|---|---|
| NMZ Average Weekly Movement | 2.1% |
| Capital Markets Industry Average Movement | 0.5% |
| Market Average Movement | 7.8% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 2.9% |
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
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2003 | n/a | n/a | https://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
| NMZ fundamental statistics | |
|---|---|
| Market Cap | US$1.14b |
| Earnings (TTM) | US$171.93m |
| Revenue (TTM) | US$83.39m |
6.6x
P/E Ratio13.7x
P/S RatioIs NMZ overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| NMZ income statement (TTM) | |
|---|---|
| Revenue | US$83.39m |
| Cost of Revenue | US$0 |
| Gross Profit | US$83.39m |
| Other Expenses | -US$88.54m |
| Earnings | US$171.93m |
Last Reported Earnings
Oct 31, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.76 |
| Gross Margin | 100.00% |
| Net Profit Margin | 206.18% |
| Debt/Equity Ratio | 51.1% |
How did NMZ perform over the long term?
See historical performance and comparisonDividends
6.7%
Current Dividend Yield43%
Payout RatioValuation
Is Nuveen Municipal High Income Opportunity Fund undervalued compared to its fair value and its price relative to the market?
Valuation Score
4/6Valuation 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
0/6Future 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
2/6Past 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
2/6Financial 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
4/6Dividend 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
- Name: Nuveen Municipal High Income Opportunity Fund
- Ticker: NMZ
- Exchange: NYSE
- Founded: 2003
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Implied Market Cap: US$1.142b
- Shares outstanding: 97.87m
- Website: https://www.nuveen.com/CEF/Product/Overview.aspx?FundCode=NMZ&refsrc=vu_nuveen.com/nmz
Location
- Nuveen Municipal High Income Opportunity Fund
- 333 West Wacker Drive
- Chicago
- Illinois
- 60606
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/05/24 00:00 |
| End of Day Share Price | 2022/05/24 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.