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PTY

PIMCO & Income Opportunity Fund NYSE:PTY Stock Report

Last Price

US$14.07

Market Cap

US$1.6b

7D

0.2%

1Y

-28.5%

Updated

25 May, 2022

Data

Company Financials
PTY fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance2/6
Financial Health2/6
Dividends2/6

PTY Stock Overview

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

PIMCO & Income Opportunity Fund Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for PIMCO & Income Opportunity Fund
Historical stock prices
Current Share PriceUS$14.07
52 Week HighUS$21.66
52 Week LowUS$13.34
Beta0.74
1 Month Change-4.68%
3 Month Change-2.83%
1 Year Change-28.51%
3 Year Change-22.69%
5 Year Change-14.00%
Change since IPO-6.26%

Recent News & Updates

May 13

PTY: Weathering The Storm With A Durable, Double-Digit Dividend Yield

PTY is a flagship closed-end fund managed by PIMCO that has performed well since inception in 2002. The fund is plunging deeper and deeper into the red as risks remain at the forefront of the conversation. The fund has reached an unusual double-digit dividend yield which remains well covered.

Mar 31

PTY: I Like The High Yield Exposure, But The Premium Remains A Real Concern

PTY has continued to struggle since my last review, although its very short-term price momentum has been positive. I like high yield credit in general, for one that wants fixed-income exposure. Interest rate risk remains the main threat to credit and bonds, and high yield has less relative exposure. Credit spreads suggest there is some value here, within the U.S. and emerging markets. This could help generate interest in funds like PTY. Despite these positives, the premium price remains a sore point. It is difficult to find merit to buying a CEF at a 14% + premium, and that is the case as of now.

Jan 19

PTY: A New Day For A Battered Closed End Fund

PTY is a flagship PIMCO closed end fund having performed well since inception in 2002. The fund is trading with an unusual negative TTM return as shareholders continue to flee the fund since a distribution cut in September. The recent performance has changed the fund’s opportunity set, leading us to reassess. Today, the valuation and yield are better than before the cut.

Dec 17

PTY: A Victim Of Its Own Past Success

PTY has seen a double-digit drop over the past three months. The decline was predictable, but the speed at which it occurred has taken some by surprise. With this drop, PTY is now trading at a much more reasonable valuation, limiting the downside risk going forward. However, it is still above my premium to NAV threshold. High yield credit has performed well in 2021, and there are signs that could continue in 2022 as the economic recovery continues. This bodes well for PTY's underlying holdings. With a recent income cut, the fund is now covering its distribution, which is a positive sign.

Nov 25

PTY: 30% NAV Premium And Rising Corporate Yields Create Significant Downside Risk

Record low-interest rates are pushing many investors into riskier leveraged high-yield credit funds like PTY. PIMCO's PTY has become riskier over the past two years, with a higher beta and volatility than most equity funds. PTY's net asset value declined recently as junk bond yields switched toward a rising trend. The end to monetary stimulus, falling consumer confidence, and rising inflation will likely push junk bond yields materially higher. At a massive 30% NAV premium, combined with other negative factors, PTY is at high immediate risk of a significant decline in value.

Oct 19

PTY: A Best-In-Class CEF With A Luxury Valuation

PTY is a closed end fund managed by PIMCO that utilizes a diversified portfolio to drive current income and total return. The fund is one of PIMCO’s flagship CEFs, outperforming its peers and even the S&P 500. A recent distribution cut combined with an extreme premium to NAV creates an interesting outlook for the fund.

Shareholder Returns

PTYUS Capital MarketsUS Market
7D0.2%3.3%1.0%
1Y-28.5%-13.5%-15.1%

Return vs Industry: PTY underperformed the US Capital Markets industry which returned -14% over the past year.

Return vs Market: PTY underperformed the US Market which returned -13.2% over the past year.

Price Volatility

Is PTY's price volatile compared to industry and market?
PTY volatility
PTY Average Weekly Movement3.7%
Capital Markets Industry Average Movement0.4%
Market Average Movement7.8%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market2.9%

Stable Share Price: PTY is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PTY's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2002n/an/ahttps://www.allianzinvestors.com/Products/pages/11.aspx

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

PIMCO & Income Opportunity Fund Fundamentals Summary

How do PIMCO & Income Opportunity Fund's earnings and revenue compare to its market cap?
PTY fundamental statistics
Market CapUS$1.56b
Earnings (TTM)US$99.51m
Revenue (TTM)US$164.19m

15.6x

P/E Ratio

9.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PTY income statement (TTM)
RevenueUS$164.19m
Cost of RevenueUS$0
Gross ProfitUS$164.19m
Other ExpensesUS$64.68m
EarningsUS$99.51m

Last Reported Earnings

Jan 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.90
Gross Margin100.00%
Net Profit Margin60.61%
Debt/Equity Ratio47.8%

How did PTY perform over the long term?

See historical performance and comparison

Dividends

10.1%

Current Dividend Yield

172%

Payout Ratio

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


15.64x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: PTY ($14.07) is trading above our estimate of fair value ($11.82)

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


Price To Earnings Ratio

PE vs Industry: PTY is good value based on its Price-To-Earnings Ratio (15.6x) compared to the US Capital Markets industry average (29.6x).

PE vs Market: PTY is poor value based on its Price-To-Earnings Ratio (15.6x) compared to the US market (14.9x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PTY is overvalued based on its Price-To-Book Ratio (1x) compared to the US Capital Markets industry average (-18.8x).

Future Growth

How is PIMCO & 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


9.8%

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 & 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 PIMCO & 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


-10.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PTY has a large one-off loss of $70.3M impacting its January 31 2022 financial results.

Growing Profit Margin: PTY's current net profit margins (60.6%) are higher than last year (42.8%).


Past Earnings Growth Analysis

Earnings Trend: PTY's earnings have declined by 10.2% per year over the past 5 years.

Accelerating Growth: PTY's earnings growth over the past year (57.5%) exceeds its 5-year average (-10.2% per year).

Earnings vs Industry: PTY earnings growth over the past year (57.5%) underperformed the Capital Markets industry 96.7%.


Return on Equity

High ROE: PTY's Return on Equity (5.4%) is considered low.

Financial Health

How is PIMCO & 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: PTY's short term assets ($277.9M) do not cover its short term liabilities ($1.1B).

Long Term Liabilities: PTY's short term assets ($277.9M) exceed its long term liabilities ($37.1M).


Debt to Equity History and Analysis

Debt Level: PTY's net debt to equity ratio (47.5%) is considered high.

Reducing Debt: PTY's debt to equity ratio has increased from 12.5% to 47.8% over the past 5 years.

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

Interest Coverage: PTY's interest payments on its debt are well covered by EBIT (8.5x coverage).


Balance Sheet

Dividend

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

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


10.13%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PTY's dividend (10.13%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: PTY's dividend (10.13%) is in the top 25% of dividend payers in the US market (4.06%)


Stability and Growth of Payments

Stable Dividend: PTY's dividend payments have been volatile in the past 10 years.

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


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (172.5%), PTY's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: PTY 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?

12.4yrs

Average board tenure


CEO

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


Board Members

Experienced Board: PTY's board of directors are seasoned and experienced ( 12.4 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 Opportunity Fund's employee growth, exchange listings and data sources


Key Information

  • Name: PIMCO Corporate & Income Opportunity Fund
  • Ticker: PTY
  • Exchange: NYSE
  • Founded: 2002
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$1.556b
  • Shares outstanding: 110.62m
  • Website: https://www.allianzinvestors.com/Products/pages/11.aspx

Location

  • PIMCO Corporate & Income Opportunity 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 Analysis2022/05/25 00:00
End of Day Share Price2022/05/25 00:00
Earnings2022/01/31
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.