Share Price & News
How has High Income Securities Fund's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PCF is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: PCF's weekly volatility (3%) has been stable over the past year.
7 Day Return
US Capital Markets
1 Year Return
US Capital Markets
Return vs Industry: PCF underperformed the US Capital Markets industry which returned 45.5% over the past year.
Return vs Market: PCF underperformed the US Market which returned 36.3% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is High Income Securities Fund's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is High Income Securities Fund undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: PCF ($8.37) is trading above our estimate of fair value ($0.85)
Significantly Below Fair Value: PCF is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PCF is poor value based on its PE Ratio (137.5x) compared to the US Capital Markets industry average (23.4x).
PE vs Market: PCF is poor value based on its PE Ratio (137.5x) compared to the US market (21.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PCF's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PCF is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (19x).
How is High Income Securities Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
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 High Income Securities 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.
How has High Income Securities Fund performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PCF has a large one-off loss of $1.8M impacting its August 31 2020 financial results.
Growing Profit Margin: PCF's current net profit margins (11%) are lower than last year (55.8%).
Past Earnings Growth Analysis
Earnings Trend: PCF has become profitable over the past 5 years, growing earnings by 12.6% per year.
Accelerating Growth: PCF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PCF had negative earnings growth (-74.2%) over the past year, making it difficult to compare to the Capital Markets industry average (10.4%).
Return on Equity
High ROE: PCF's Return on Equity (0.7%) is considered low.
How is High Income Securities Fund's financial position?
Financial Position Analysis
Short Term Liabilities: PCF's short term assets ($160.6K) do not cover its short term liabilities ($225.4K).
Long Term Liabilities: PCF's short term assets ($160.6K) exceed its long term liabilities ($25.1K).
Debt to Equity History and Analysis
Debt Level: PCF is debt free.
Reducing Debt: PCF has not had any debt for past 5 years.
Debt Coverage: PCF has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: PCF has no debt, therefore coverage of interest payments is not a concern.
What is High Income Securities Fund current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: PCF's dividend (11.61%) is higher than the bottom 25% of dividend payers in the US market (1.31%).
High Dividend: PCF's dividend (11.61%) is in the top 25% of dividend payers in the US market (3.64%)
Stability and Growth of Payments
Stable Dividend: PCF's dividend payments have been volatile in the past 10 years.
Growing Dividend: PCF's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (1393%), PCF'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.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
High Income Securities Fund has no CEO, or we have no data on them.
|President and Interested Trustee||12.5yrs||no data||no data|
|Independent Trustee||24yrs||US$856.00||no data|
|Independent Trustee||37.17yrs||US$1.00k||no data|
|Independent Trustee||36.92yrs||US$964.00||no data|
|Independent Trustee||11.83yrs||US$848.00||no data|
|Independent Trustee||12.17yrs||US$639.00||no data|
|Independent Trustee||11.17yrs||US$639.00||no data|
|Independent Trustee||13.67yrs||US$639.00||no data|
|Independent Trustee||14.42yrs||US$693.00||no data|
Experienced Board: PCF's board of directors are seasoned and experienced ( 14 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PCF insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
High Income Securities Fund's company bio, employee growth, exchange listings and data sources
- Name: High Income Securities Fund
- Ticker: PCF
- Exchange: NYSE
- Founded: 1987
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: US$46.579m
- Shares outstanding: 5.57m
- Website: https://www.putnam.com/individual/mutual-funds/closed-end-funds/funds/40-high-income-securities
- High Income Securities Fund
- 100 Federal Street
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|PCF||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Jul 1987|
High Income Securities Fund is a closed-ended balanced income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/03/06 23:22|
|End of Day Share Price||2021/03/05 00:00|
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.