LSE:CMHY

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City Merchants High Yield Trust

Executive Summary

City Merchants High Yield Trust Limited is a closed-ended fixed income mutual fund launched and managed by Invesco Fund Managers Limited. More Details


Snowflake Analysis

Share Price & News

How has City Merchants High Yield Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CMHY has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

5.1%

CMHY

1.0%

GB Capital Markets

0.08%

GB Market


1 Year Return

-2.6%

CMHY

0.7%

GB Capital Markets

-13.9%

GB Market

Return vs Industry: CMHY underperformed the UK Capital Markets industry which returned 0.7% over the past year.

Return vs Market: CMHY exceeded the UK Market which returned -13.9% over the past year.


Shareholder returns

CMHYIndustryMarket
7 Day5.1%1.0%0.08%
30 Day9.9%0.3%0.4%
90 Day7.1%4.7%-1.5%
1 Year2.8%-2.6%4.0%0.7%-10.4%-13.9%
3 Year11.9%-4.5%28.5%13.2%-4.3%-16.0%
5 Year35.9%4.1%75.5%44.1%23.0%-4.6%

Price Volatility Vs. Market

How volatile is City Merchants High Yield Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is City Merchants High Yield Trust undervalued compared to its fair value and its price relative to the market?

62.5x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CMHY (£1.89) is trading above our estimate of fair value (£1.49)

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


Price To Earnings Ratio

PE vs Industry: CMHY is poor value based on its PE Ratio (62.5x) compared to the GB Capital Markets industry average (16.6x).

PE vs Market: CMHY is poor value based on its PE Ratio (62.5x) compared to the UK market (17.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: CMHY is good value based on its PB Ratio (1x) compared to the GB Capital Markets industry average (1.1x).

Future Growth

How is City Merchants High Yield Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

17.6%

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 City Merchants High Yield Trust 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 City Merchants High Yield Trust performed over the past 5 years?

3.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CMHY has high quality earnings.

Growing Profit Margin: CMHY's current net profit margins are higher than last year (66.8%).


Past Earnings Growth Analysis

Earnings Trend: CMHY's earnings have grown by 3.7% per year over the past 5 years.

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

Earnings vs Industry: CMHY had negative earnings growth (-72.8%) over the past year, making it difficult to compare to the Capital Markets industry average (1.8%).


Return on Equity

High ROE: CMHY's Return on Equity (1.6%) is considered low.

Financial Health

How is City Merchants High Yield Trust's financial position?


Financial Position Analysis

Short Term Liabilities: CMHY's short term assets (£9.0M) do not cover its short term liabilities (£17.8M).

Long Term Liabilities: CMHY has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: CMHY's debt to equity ratio (7.1%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if CMHY's debt to equity ratio has reduced over the past 5 years.

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

Interest Coverage: Insufficient data to determine if CMHY's interest payments on its debt are well covered by EBIT.


Balance Sheet

Dividend

What is City Merchants High Yield Trust current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CMHY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CMHY's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CMHY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CMHY's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: CMHY is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CMHY's dividend in 3 years as they are not forecast to pay a notable one for the UK market.

Management

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

8.8yrs

Average board tenure


CEO

City Merchants High Yield Trust has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Clive A. Nicholson
Chairman13.67yrsUK£28.50kno data
Stuart McMaster
Directorno datano data0.025%
£ 47.2k
Winifred Robbins
Non-Executive Director11.5yrsUK£19.00k0%
£ 0
Philip Austin
Director8.75yrsUK£19.00k0.010%
£ 20.1k
John Boothman
Director8.75yrsUK£19.00kno data
Philip Taylor
Director8.75yrsUK£22.00k0%
£ 0
Heather MacCallum
Directorno datano datano data

8.8yrs

Average Tenure

70yo

Average Age

Experienced Board: CMHY's board of directors are considered experienced (8.8 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 been diluted in the past year, with total shares outstanding growing by 3.5%.


Top Shareholders

Company Information

City Merchants High Yield Trust Limited's company bio, employee growth, exchange listings and data sources


Key Information


Location

  • City Merchants High Yield Trust Limited
  • Perpetual Park
  • Perpetual Park Drive
  • Henley-on-Thames
  • Oxfordshire
  • RG9 1HH
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CMHYLSE (London Stock Exchange)YesOrdinary SharesGBGBPApr 2003
CMHYlBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPApr 2003

Biography

City Merchants High Yield Trust Limited is a closed-ended fixed income mutual fund launched and managed by Invesco Fund Managers Limited. It is co-managed by INVESCO Asset Management Limited. The fund inve ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/21 03:52
End of Day Share Price2020/09/18 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.