NYSE:AWF

Stock Analysis Report

AllianceBernstein Global High Income Fund

Executive Summary

AllianceBernstein Global High Income Fund is a close-ended fixed income mutual fund launched and managed by AllianceBernstein L.P.

Rewards


Snowflake Analysis

Share Price & News

How has AllianceBernstein Global High Income Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0.5%

AWF

1.7%

US Capital Markets

1.5%

US Market


1 Year Return

8.4%

AWF

19.0%

US Capital Markets

20.1%

US Market

Return vs Industry: AWF underperformed the US Capital Markets industry which returned 19% over the past year.

Return vs Market: AWF underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

AWFIndustryMarket
7 Day0.5%1.7%1.5%
30 Day1.3%0.5%1.4%
90 Day4.2%8.6%8.7%
1 Year15.9%8.4%21.4%19.0%22.7%20.1%
3 Year19.6%-2.6%40.0%32.1%50.1%40.5%
5 Year43.8%-1.7%83.6%66.5%73.1%54.1%

Price Volatility Vs. Market

How volatile is AllianceBernstein Global High Income Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is AllianceBernstein Global High Income Fund undervalued compared to its fair value and its price relative to the market?

17.39x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AWF ($12.47) is trading above our estimate of fair value ($7.6)

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


Price To Earnings Ratio

PE vs Industry: AWF is good value based on its PE Ratio (17.4x) compared to the Capital Markets industry average (36x).

PE vs Market: AWF is good value based on its PE Ratio (17.4x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: AWF is good value based on its PB Ratio (0.9x) compared to the US Capital Markets industry average (6.7x).

Future Growth

How is AllianceBernstein Global High Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.4%

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 AllianceBernstein Global High Income 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 AllianceBernstein Global High Income Fund performed over the past 5 years?

2.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AWF has high quality earnings.

Growing Profit Margin: AWF's current net profit margins (86.9%) are higher than last year (4.5%).


Past Earnings Growth Analysis

Earnings Trend: AWF's earnings have grown by 2.6% per year over the past 5 years.

Accelerating Growth: AWF's earnings growth over the past year (1535.4%) exceeds its 5-year average (2.6% per year).

Earnings vs Industry: AWF earnings growth over the past year (1535.4%) exceeded the Capital Markets industry 8.4%.


Return on Equity

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


Return on Assets


Return on Capital Employed

Financial Health

How is AllianceBernstein Global High Income Fund's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: AWF has a low level of unsold assets or inventory.

Debt Coverage by Assets: AWF's debt is covered by short term assets (assets are 4.3x debt).


Financial Institutions Analysis

Asset Level: AWF's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if AWF has a sufficient allowance for bad loans.

Low Risk Liabilities: AWF reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if AWF has an acceptable proportion of non-loan assets held.

Low Risk Deposits: AWF has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if AWF has an appropriate level of bad loans.

Dividend

What is AllianceBernstein Global High Income Fund's current dividend yield, its reliability and sustainability?

6.30%

Current Dividend Yield


Dividend Yield vs Market

company6.3%marketbottom25%1.4%markettop25%3.7%industryaverage1.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: AWF's dividend (6.3%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: AWF's dividend (6.3%) is in the top 25% of dividend payers in the US market (3.69%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (113.9%), AWF'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?

13.9yrs

Average board tenure


CEO

AllianceBernstein Global High Income Fund has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
D. Guzy
Independent Director14.2yrsUS$6.32kno data
John Dobkin
Independent Director27.1yrsUS$6.32kno data
William Foulk
Independent Director27.1yrsUS$11.92kno data
Marshall Turner
Chairman6.1yrsUS$6.32kno data
Michael Downey
Independent Director15.1yrsUS$6.32k0.0035% $37.4k
Nancy Jacklin
Independent Director13.7yrsUS$6.32kno data
Earl Weiner
Independent Director13.1yrsUS$6.77k0.0013% $14.1k
Garry Moody
Independent Director12.1yrsUS$7.06kno data

13.9yrs

Average Tenure

77yo

Average Age

Experienced Board: AWF's board of directors are seasoned and experienced ( 13.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AWF 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

AllianceBernstein Global High Income Fund's company bio, employee growth, exchange listings and data sources


Key Information


Location

  • AllianceBernstein Global High Income Fund
  • 1345 Avenue of the Americas
  • New York
  • New York
  • 10105
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AWFNYSE (New York Stock Exchange)YesCommon StockUSUSDJul 1993

Biography

AllianceBernstein Global High Income Fund is a close-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. It invests in fixed income markets across the globe. The fund primarily invests in lower-rated corporate debt securities and government bonds. It employs a combination of fundamental and quantitative analysis to create its portfolio. The fund benchmarks the performance of its portfolio against a composite index comprised of JPMorgan Government Bond Index-Emerging Markets, JPMorgan Emerging Markets Bond Index Global, and the Barclays U.S. Corporate High Yield 2% Issuer Capped Index. It was previously known as Alliance World Dollar Government Fund II, Inc. AllianceBernstein Global High Income Fund was formed on May 20, 1993 and is domiciled in the United States. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 00:11
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.