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PCN

PIMCO & Income Strategy FundNYSE:PCN Stock Report

Last Price

US$16.78

Market Cap

US$682.6m

7D

-1.8%

1Y

-1.9%

Updated

19 Jan, 2022

Data

Company Financials
PCN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance1/6
Financial Health2/6
Dividends4/6

PCN Stock Overview

PIMCO Corporate & Income Strategy Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC.

Price History & Performance

Summary of all time highs, changes and price drops for PIMCO & Income Strategy Fund
Historical stock prices
Current Share PriceUS$16.78
52 Week HighUS$19.47
52 Week LowUS$16.65
Beta0.73
1 Month Change-0.53%
3 Month Change-7.09%
1 Year Change-1.93%
3 Year Change9.32%
5 Year Change8.40%
Change since IPO11.50%

Recent News & Updates

Dec 24

PCN: A Time Tested Fund With A Luxurious Price Tag

PCN is a closed end fund managed by PIMCO that utilizes a diversified fixed income portfolio to drive income and total return. The fund is one of PIMCO’s oldest continuously operating CEFs, outperforming its peer group and the broader fixed income market substantially. Other PIMCO funds recently cut their distributions, leading to turmoil amongst share prices across the board.

Sep 19

PCN: Income Constant, Premium Still Sky-High

PIMCO CEFs made news recently, with distribution cuts to a number of funds. The pain was swift, and even those that did not see cuts got impacted. PCN was not impacted by an income cut, although it did see some volatility on the news. Fortunately, investors may view PCN's distribution more favorably now, since it survived that latest round of cuts. High yield credit continues to see underlying improvement, which bodes well for this particular CEF. However, PCN still has a very high premium, which should give investors pause. Further, recent income metrics do not exactly put me at ease.

Jun 01

PIMCO Corporate & Income Strategy Fund declares $0.1125 dividend

PIMCO Corporate & Income Strategy Fund (PCN) declares $0.1125/share monthly dividend, in line with previous.Payable July 1; for shareholders of record June 11; ex-div June 10.See PCN Dividend Scorecard, Yield Chart, & Dividend Growth.

Feb 04

PIMCO Corporate & Income Strategy Fund declares $0.1125 dividend

PIMCO Corporate & Income Strategy Fund (PCN) declares $0.1125/share monthly dividend, in line with previous.Forward yield 7.82%Payable March 1; for shareholders of record Feb. 11; ex-div Feb. 10.See PCN Dividend Scorecard, Yield Chart, & Dividend Growth.

Jan 04

PIMCO Corporate & Income Strategy Fund declares $0.1125 dividend

PIMCO Corporate & Income Strategy Fund (PCN) declares $0.1125/share monthly dividend, in line with previous.Forward yield 7.83%Payable Feb. 1; for shareholders of record Jan. 14; ex-div Jan. 13.See PCN Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

PCNUS Capital MarketsUS Market
7D-1.8%-5.5%-4.6%
1Y-1.9%24.6%7.7%

Return vs Industry: PCN underperformed the US Capital Markets industry which returned 25.7% over the past year.

Return vs Market: PCN underperformed the US Market which returned 10.2% over the past year.

Price Volatility

Is PCN's price volatile compared to industry and market?
PCN volatility
PCN Average Weekly Movement2.0%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

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

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

About the Company

FoundedEmployeesCEOWebsite
2001n/an/ahttps://www.allianzinvestors.com/Products/pages/4.aspx?ShareClassCode=ARTIFICIAL

PIMCO Corporate & Income Strategy Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States.

PIMCO & Income Strategy Fund Fundamentals Summary

How do PIMCO & Income Strategy Fund's earnings and revenue compare to its market cap?
PCN fundamental statistics
Market CapUS$682.56m
Earnings (TTM)US$120.73m
Revenue (TTM)US$56.98m

5.7x

P/E Ratio

12.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PCN income statement (TTM)
RevenueUS$56.98m
Cost of RevenueUS$0
Gross ProfitUS$56.98m
Expenses-US$63.75m
EarningsUS$120.73m

Last Reported Earnings

Jul 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.97
Gross Margin100.00%
Net Profit Margin211.89%
Debt/Equity Ratio66.8%

How did PCN perform over the long term?

See historical performance and comparison

Dividends

8.0%

Current Dividend Yield

47%

Payout Ratio

Valuation

Is PIMCO & Income Strategy Fund undervalued compared to its fair value and its price relative to the market?

5.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PCN ($16.78) is trading above our estimate of fair value ($11.1)

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


Price To Earnings Ratio

PE vs Industry: PCN is good value based on its PE Ratio (5.7x) compared to the US Capital Markets industry average (15.5x).

PE vs Market: PCN is good value based on its PE Ratio (5.7x) compared to the US market (17x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PCN is good value based on its PB Ratio (1.1x) compared to the US Capital Markets industry average (42.2x).

Future Growth

How is PIMCO & Income Strategy 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 PIMCO & Income Strategy 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 PIMCO & Income Strategy Fund performed over the past 5 years?

-11.0%

Historical annual earnings growth


Earnings and Revenue History

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

Growing Profit Margin: PCN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: PCN's earnings have declined by 11% per year over the past 5 years.

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

Earnings vs Industry: PCN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (86.4%).


Return on Equity

High ROE: PCN's Return on Equity (19.2%) is considered low.

Financial Health

How is PIMCO & Income Strategy Fund's financial position?


Financial Position Analysis

Short Term Liabilities: PCN's short term assets ($86.8M) do not cover its short term liabilities ($467.0M).

Long Term Liabilities: PCN's short term assets ($86.8M) exceed its long term liabilities ($9.3M).


Debt to Equity History and Analysis

Debt Level: PCN's net debt to equity ratio (66.2%) is considered high.

Reducing Debt: PCN's debt to equity ratio has increased from 15.5% to 66.8% over the past 5 years.

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

Interest Coverage: PCN earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Dividend

What is PIMCO & Income Strategy Fund current dividend yield, its reliability and sustainability?

8.05%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PCN's dividend (8.05%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: PCN's dividend (8.05%) is in the top 25% of dividend payers in the US market (3.48%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.6%), PCN's dividend payments are 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?

12.1yrs

Average board tenure


CEO

PIMCO & Income Strategy Fund has no CEO, or we have no data on them.


Board Members

Experienced Board: PCN's board of directors are seasoned and experienced ( 12.1 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

PIMCO Corporate & Income Strategy Fund's employee growth, exchange listings and data sources


Key Information


Location

  • PIMCO Corporate & Income Strategy Fund
  • 650 Newport Center Drive
  • Newport Beach
  • California
  • 92660
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 23:41
End of Day Share Price2022/01/19 00:00
Earnings2021/07/31
Annual Earnings2021/07/31


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.