NYSE:PNI

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

PIMCO New York Municipal Income Fund II

Executive Summary

PIMCO New York Municipal Income Fund II is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. More Details


Snowflake Analysis

Share Price & News

How has PIMCO New York Municipal Income Fund II's share price performed over time and what events caused price changes?


Latest Share Price and Events

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

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


Market Performance


7 Day Return

-1.2%

PNI

-2.6%

US Capital Markets

-3.6%

US Market


1 Year Return

-9.0%

PNI

38.2%

US Capital Markets

36.5%

US Market

Return vs Industry: PNI underperformed the US Capital Markets industry which returned 38.1% over the past year.

Return vs Market: PNI underperformed the US Market which returned 36.4% over the past year.


Shareholder returns

PNIIndustryMarket
7 Day-1.2%-2.6%-3.6%
30 Day-1.0%8.2%2.7%
90 Day4.3%16.2%7.5%
1 Year-4.8%-9.0%41.5%38.2%39.5%36.5%
3 Year18.3%2.6%39.5%29.2%53.5%43.6%
5 Year8.4%-15.7%140.6%110.9%117.5%93.2%

Long-Term Price Volatility Vs. Market

How volatile is PIMCO New York Municipal Income Fund II's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is PIMCO New York Municipal Income Fund II undervalued compared to its fair value and its price relative to the market?

47.16x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PNI ($11.11) is trading above our estimate of fair value ($3.31)

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


Price To Earnings Ratio

PE vs Industry: PNI is poor value based on its PE Ratio (47.2x) compared to the US Capital Markets industry average (23.5x).

PE vs Market: PNI is poor value based on its PE Ratio (47.2x) compared to the US market (21.3x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PNI is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (14.4x).

Future Growth

How is PIMCO New York Municipal Income Fund II forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

13.8%

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 New York Municipal Income Fund II 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 New York Municipal Income Fund II performed over the past 5 years?

-3.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PNI has a large one-off loss of $2.8M impacting its June 30 2020 financial results.

Growing Profit Margin: PNI's current net profit margins (28.6%) are lower than last year (92.3%).


Past Earnings Growth Analysis

Earnings Trend: PNI's earnings have declined by 3.4% per year over the past 5 years.

Accelerating Growth: PNI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PNI had negative earnings growth (-72.3%) over the past year, making it difficult to compare to the Capital Markets industry average (9%).


Return on Equity

High ROE: PNI's Return on Equity (2.1%) is considered low.

Financial Health

How is PIMCO New York Municipal Income Fund II's financial position?


Financial Position Analysis

Short Term Liabilities: PNI's short term assets ($5.5M) do not cover its short term liabilities ($14.8M).

Long Term Liabilities: PNI's short term assets ($5.5M) do not cover its long term liabilities ($21.4M).


Debt to Equity History and Analysis

Debt Level: PNI's debt to equity ratio (19.3%) is considered satisfactory.

Reducing Debt: PNI's debt to equity ratio has increased from 4% to 19.3% over the past 5 years.

Debt Coverage: PNI's debt is well covered by operating cash flow (56.3%).

Interest Coverage: PNI's interest payments on its debt are well covered by EBIT (7.7x coverage).


Balance Sheet

Dividend

What is PIMCO New York Municipal Income Fund II current dividend yield, its reliability and sustainability?

4.59%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PNI's dividend (4.59%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: PNI's dividend (4.59%) is in the top 25% of dividend payers in the US market (3.77%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (202.8%), PNI'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.

Management

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

10.7yrs

Average board tenure


CEO

PIMCO New York Municipal Income Fund II has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Alan Rappaport
10.67yrsUS$1.54kno data
Deborah DeCotis
9.92yrsUS$1.96kno data
Hans Kertess
Chairman of the Board of Trusteesno dataUS$2.01kno data
John Maney
Independent Trustee14.17yrsno datano data
Craig Dawson
6.42yrsno datano data
William Ogden
Independent Trustee14.42yrsUS$1.54kno data
Bradford Gallagher
10.17yrsUS$1.54kno data
James Jacobson
11.17yrsUS$1.85kno data

10.7yrs

Average Tenure

71.5yo

Average Age

Experienced Board: PNI's board of directors are seasoned and experienced ( 10.7 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PIMCO New York Municipal Income Fund II's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PIMCO New York Municipal Income Fund II
  • Ticker: PNI
  • Exchange: NYSE
  • Founded: 2002
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$124.304m
  • Shares outstanding: 11.19m
  • Website: https://investments.pimco.com/Products/pages/668.aspx

Location

  • PIMCO New York Municipal Income Fund II
  • 650 Newport Center Drive
  • Newport Beach
  • California
  • 92660
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PNINYSE (New York Stock Exchange)YesCommon SharesUSUSDJun 2002

Biography

PIMCO New York Municipal Income Fund II is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United St...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/01 01:00
End of Day Share Price2021/02/26 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.