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AllianceBernstein Global High Income Fund

NYSE:AWF
Snowflake Description

Adequate balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AWF
NYSE
$999M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

AllianceBernstein Global High Income Fund is a close-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. The last earnings update was 104 days ago. More info.


Add to Portfolio Compare Print
  • AllianceBernstein Global High Income Fund is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
AWF Share Price and Events
7 Day Returns
-0.4%
NYSE:AWF
2.4%
US Capital Markets
1.2%
US Market
1 Year Returns
-2.7%
NYSE:AWF
-11.9%
US Capital Markets
3%
US Market
AWF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AllianceBernstein Global High Income Fund (AWF) -0.4% 0.8% 12.3% -2.7% -0.7% -20.6%
US Capital Markets 2.4% 0.6% 12.7% -11.9% 57% 59.3%
US Market 1.2% 2.1% 14.6% 3% 39% 43.5%
1 Year Return vs Industry and Market
  • AWF outperformed the Capital Markets industry which returned -11.9% over the past year.
  • AWF underperformed the Market in United States of America which returned 3% over the past year.

AWF Value

 Is AllianceBernstein Global High Income Fund undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AllianceBernstein Global High Income Fund to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AllianceBernstein Global High Income Fund.

NYSE:AWF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $13.56 * 5.4%
$0.73
Book Value of Equity per Share Median Book Value from the past 5 years. $13.56
Discount Rate (Cost of Equity) See below 9.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:AWF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 21%) (2.99%))
1.104
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.104 * 5.96%)
9.31%

Discounted Cash Flow Calculation for NYSE:AWF using Excess Returns Model Model

The calculations below outline how an intrinsic value for AllianceBernstein Global High Income Fund is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:AWF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.4% – 9.31%) * $13.56)
$-0.54
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.54 / (9.31% - 2.73%)
$-8.15
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $13.56 + $-8.15
$5.41
NYSE:AWF Discount to Share Price
Calculation Result
Value per share (USD) From above. $5.41
Current discount Discount to share price of $11.59
= -1 x ($11.59 - $5.41) / $5.41
-114.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of AllianceBernstein Global High Income Fund is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AllianceBernstein Global High Income Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AllianceBernstein Global High Income Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AWF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $0.04
NYSE:AWF Share Price ** NYSE (2019-03-20) in USD $11.59
United States of America Capital Markets Industry PE Ratio Median Figure of 76 Publicly-Listed Capital Markets Companies 25.13x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AllianceBernstein Global High Income Fund.

NYSE:AWF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AWF Share Price ÷ EPS (both in USD)

= 11.59 ÷ 0.04

264.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AllianceBernstein Global High Income Fund is overvalued based on earnings compared to the US Capital Markets industry average.
  • AllianceBernstein Global High Income Fund is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does AllianceBernstein Global High Income Fund's expected growth come at a high price?
Raw Data
NYSE:AWF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 264.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.17x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for AllianceBernstein Global High Income Fund, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on AllianceBernstein Global High Income Fund's assets?
Raw Data
NYSE:AWF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $13.26
NYSE:AWF Share Price * NYSE (2019-03-20) in USD $11.59
United States of America Capital Markets Industry PB Ratio Median Figure of 149 Publicly-Listed Capital Markets Companies 4.83x
United States of America Market PB Ratio Median Figure of 5,156 Publicly-Listed Companies 1.89x
NYSE:AWF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AWF Share Price ÷ Book Value per Share (both in USD)

= 11.59 ÷ 13.26

0.87x

* Primary Listing of AllianceBernstein Global High Income Fund.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AllianceBernstein Global High Income Fund is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess AllianceBernstein Global High Income Fund's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. AllianceBernstein Global High Income Fund has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AWF Future Performance

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

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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.4%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AllianceBernstein Global High Income Fund expected to grow at an attractive rate?
  • Unable to compare AllianceBernstein Global High Income Fund's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare AllianceBernstein Global High Income Fund's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare AllianceBernstein Global High Income Fund's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:AWF Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:AWF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AWF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 84 4
2018-06-30 84 25
2018-03-31 84 46
2017-12-31 83 82
2017-09-30 81 119
2017-06-30 82 153
2017-03-31 83 188
2016-12-31 84 167
2016-09-30 85 210 147
2016-06-30 87 209 63
2016-03-31 89 208 -22
2015-12-31 91 167 -34

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if AllianceBernstein Global High Income Fund is high growth as no earnings estimate data is available.
  • Unable to determine if AllianceBernstein Global High Income Fund is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AWF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from AllianceBernstein Global High Income Fund Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AWF Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 0.04
2018-06-30 0.29
2018-03-31 0.53
2017-12-31 0.95
2017-09-30 1.38
2017-06-30 1.78
2017-03-31 2.18
2016-12-31 1.94
2016-09-30 1.71
2016-06-30 0.73
2016-03-31 -0.26
2015-12-31 -0.39

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if AllianceBernstein Global High Income Fund will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess AllianceBernstein Global High Income Fund's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AllianceBernstein Global High Income Fund has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AWF Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AllianceBernstein Global High Income Fund's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AllianceBernstein Global High Income Fund's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • AllianceBernstein Global High Income Fund's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AllianceBernstein Global High Income Fund's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
AllianceBernstein Global High Income Fund's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AllianceBernstein Global High Income Fund Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AWF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 84.46 3.78 11.61
2018-06-30 84.44 24.68 11.73
2018-03-31 84.42 45.57 11.85
2017-12-31 82.61 82.30 11.75
2017-09-30 80.79 119.03 11.65
2017-06-30 81.69 153.30 11.50
2017-03-31 82.60 187.57 11.35
2016-12-31 83.60 167.47 11.10
2016-09-30 84.59 147.37 10.85
2016-06-30 86.57 62.62 10.95
2016-03-31 88.54 -22.12 11.05
2015-12-31 91.48 -33.90 11.62
2015-09-30 94.41 -45.68 12.19
2015-06-30 96.76 -11.44 12.47
2015-03-31 99.11 22.80 12.75
2014-12-31 102.78 64.48 12.77
2014-09-30 106.45 106.17 12.80
2014-06-30 108.69 99.36 12.81
2014-03-31 110.93 92.55 12.83
2013-12-31 112.68 100.41 12.85
2013-09-30 114.43 108.26 12.87
2013-06-30 115.64 153.97 12.72
2013-03-31 116.85 199.68 12.56
2012-12-31 115.61 228.67 12.26
2012-09-30 114.37 257.65 11.97
2012-06-30 115.87 165.21 12.01
2012-03-31 117.37 72.77 12.06

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AllianceBernstein Global High Income Fund has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AllianceBernstein Global High Income Fund used its assets less efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • AllianceBernstein Global High Income Fund's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AllianceBernstein Global High Income Fund's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AllianceBernstein Global High Income Fund has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AWF Health

 How is AllianceBernstein Global High Income Fund's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AllianceBernstein Global High Income Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AllianceBernstein Global High Income Fund's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • AllianceBernstein Global High Income Fund has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AllianceBernstein Global High Income Fund's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AllianceBernstein Global High Income Fund Company Filings, last reported 5 months ago.

NYSE:AWF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 1,143.78 29.88 24.27
2018-06-30 1,143.78 29.88 24.27
2018-03-31 1,169.16 85.96 2.03
2017-12-31 1,169.16 85.96 2.03
2017-09-30 1,212.32 59.71 0.75
2017-06-30 1,212.32 59.71 0.75
2017-03-31 1,195.92 91.63 7.71
2016-12-31 1,195.92 91.63 7.71
2016-09-30 1,169.45 106.92 0.51
2016-06-30 1,169.45 106.92 0.51
2016-03-31 1,090.25 77.27 0.36
2015-12-31 1,090.25 77.27 0.36
2015-09-30 1,117.69 214.53 0.34
2015-06-30 1,117.69 214.53 0.34
2015-03-31 1,207.98 199.13 0.05
2014-12-31 1,207.98 199.13 0.05
2014-09-30 1,284.44 239.51 0.00
2014-06-30 1,284.44 239.51 0.00
2014-03-31 1,309.52 86.43 1.05
2013-12-31 1,309.52 86.43 1.05
2013-09-30 1,308.24 119.04 3.16
2013-06-30 1,308.24 119.04 3.16
2013-03-31 1,352.24 148.26 6.89
2012-12-31 1,352.24 148.26 6.89
2012-09-30 1,317.59 168.45 0.19
2012-06-30 1,317.59 168.45 0.19
2012-03-31 1,267.20 124.02 4.18
  • AllianceBernstein Global High Income Fund's level of debt (2.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (9.1% vs 2.6% today).
  • Unable to verify if debt is well covered by operating cash flow as AllianceBernstein Global High Income Fund has not reported sufficient balance sheet data.
  • AllianceBernstein Global High Income Fund earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess AllianceBernstein Global High Income Fund's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AllianceBernstein Global High Income Fund has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AWF Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.24%
Current annual income from AllianceBernstein Global High Income Fund dividends.
If you bought $2,000 of AllianceBernstein Global High Income Fund shares you are expected to receive $145 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AllianceBernstein Global High Income Fund's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • AllianceBernstein Global High Income Fund's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:AWF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:AWF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-25 0.839 7.202
2019-01-28 0.839 7.327
2018-12-21 0.839 7.724
2018-11-26 0.839 7.828
2018-10-22 0.839 7.586
2018-09-24 0.839 7.268
2018-08-24 0.839 7.199
2018-07-23 0.839 7.217
2018-06-22 0.839 7.278
2018-05-25 0.839 7.226
2018-04-23 0.839 7.164
2018-03-26 0.839 7.075
2018-02-16 0.839 6.996
2018-01-22 0.839 6.835
2017-12-21 0.839 6.598
2017-11-27 0.839 6.605
2017-10-23 0.839 6.593
2017-09-25 0.839 6.452
2017-08-25 0.839 6.477
2017-07-24 0.839 6.478
2017-06-23 0.839 6.509
2017-05-30 0.839 6.522
2017-03-27 0.839 6.612
2017-02-17 0.839 6.653
2017-01-23 0.839 6.562
2016-12-14 0.972 7.720
2016-11-28 0.972 7.988
2016-10-24 0.972 8.049
2016-09-26 0.972 7.776
2016-08-26 0.972 7.689
2016-07-25 0.972 7.733
2016-06-24 0.972 7.870
2016-05-20 0.972 7.979
2016-04-25 0.972 8.166
2016-03-28 0.972 8.328
2016-02-22 0.972 8.589
2016-01-25 0.972 9.107
2015-12-14 0.972 9.037
2015-11-23 0.972 8.836
2015-10-26 0.972 8.588
2015-09-28 0.972 8.655
2015-08-21 0.972 8.544
2015-07-27 0.972 8.476
2015-06-26 0.972 8.201
2015-05-22 0.972 7.998
2015-04-27 0.972 7.781
2015-03-27 0.972 7.726
2015-02-23 0.972 7.713
2015-01-26 0.972 7.716
2014-12-15 3.773 30.052
2014-11-24 0.972 7.405
2014-10-27 0.972 7.221
2014-09-22 0.972 7.243
2014-08-22 0.972 7.012
2014-07-28 0.972 7.030
2014-06-27 1.071 7.544
2014-05-23 1.071 7.459
2014-04-28 1.299 8.698
2014-03-24 1.299 8.865
2014-02-24 1.299 8.845
2014-01-27 1.299 8.825
2013-12-16 1.200 8.196
2013-11-25 1.200 8.166
2013-10-29 1.200 7.907
2013-09-24 1.200 8.069
2013-08-27 1.200 8.295
2013-07-30 1.200 8.426
2013-06-27 1.200 8.289
2013-05-28 1.200 8.011
2013-04-23 1.200 7.155
2013-03-25 1.200 7.335
2013-02-26 1.200 7.175
2013-01-29 1.200 7.167
2012-10-31 1.200 7.561
2012-09-25 1.200 7.586
2012-08-28 1.200 7.631
2012-07-24 1.200 7.636
2012-06-26 1.200 7.918
2012-05-29 1.200 8.088
2012-04-24 1.200 8.000
2012-03-27 1.200 7.972
2012-02-28 1.200 7.934
2012-01-24 1.200 7.995
2011-12-15 1.200 8.338
2011-11-29 1.200 8.421
2011-10-25 1.200 8.382
2011-09-27 1.200 8.829
2011-08-30 1.200 8.573
2011-07-26 1.200 8.408
2011-06-28 1.200 7.942
2011-05-24 1.200 7.947
2011-04-26 1.200 7.997
2011-03-29 1.200 8.100
2011-02-22 1.200 8.190
2011-01-05 1.200 8.358
2010-10-26 1.200 8.298
2010-09-28 1.200 8.011
2010-08-24 1.200 8.254
2010-07-27 1.200 8.275
2010-06-29 1.200 8.698
2010-05-25 1.200 9.118
2010-04-27 1.200 8.976
2010-03-30 1.200 8.336
2010-02-23 1.200 8.658
2010-01-26 1.200 9.045
2010-01-04 1.200 8.732
2009-11-24 1.200 9.072
2009-10-27 1.110 8.749
2009-09-29 1.110 8.666
2009-08-25 1.110 9.121
2009-07-28 1.110 9.530
2009-06-22 1.110 10.477
2009-05-26 1.110 10.690
2009-04-28 1.110 11.405
2009-03-24 1.110 12.834
2009-03-23 1.110 13.537

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of AllianceBernstein Global High Income Fund's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess AllianceBernstein Global High Income Fund's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AllianceBernstein Global High Income Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AllianceBernstein Global High Income Fund has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AWF Management

 What is the CEO of AllianceBernstein Global High Income Fund's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Robert Keith
AGE 57
CEO Bio

Mr. Robert M. Keith serves as the Head of Global Client Group and Partner at AllianceBernstein L.P. He holds a B.A. from Brown University in 1982.

CEO Compensation
  • Insufficient data for Robert to compare compensation growth.
  • Insufficient data for Robert to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team

Robert Keith

TITLE
Chief Executive Officer
AGE
57

Joe Mantineo

TITLE
Chief Financial Officer and Treasurer
AGE
59

Vincent Noto

TITLE
Vice President and Mutual Fund Chief Compliance Officer
AGE
53

Philip Kirstein

TITLE
Senior Vice President and Independent Compliance Officer
AGE
72

Emilie Wrapp

TITLE
Secretary
AGE
62

Stephen Woetzel

TITLE
Controller
AGE
46

Paul DeNoon

TITLE
Portfolio Manager
AGE
55

Douglas Peebles

TITLE
Portfolio Manager
AGE
52

Matthew Sheridan

TITLE
Portfolio Manager
AGE
42

Marco Santamaria

TITLE
Portfolio Manager
AGE
52
Board of Directors Tenure

Average tenure and age of the AllianceBernstein Global High Income Fund board of directors in years:

13
Average Tenure
76
Average Age
  • The average tenure for the AllianceBernstein Global High Income Fund board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Marshall Turner

TITLE
Chairman
COMPENSATION
$6K
AGE
76
TENURE
5.2 yrs

Robert Keith

TITLE
Chief Executive Officer
AGE
57

William Foulk

TITLE
Independent Director
COMPENSATION
$12K
AGE
85
TENURE
26.2 yrs

Garry Moody

TITLE
Independent Director
COMPENSATION
$7K
AGE
65
TENURE
11.2 yrs

John Dobkin

TITLE
Independent Director
COMPENSATION
$6K
AGE
76
TENURE
26.2 yrs

Michael Downey

TITLE
Independent Director
COMPENSATION
$6K
AGE
74
TENURE
14.2 yrs

Jim Guzy

TITLE
Independent Director
COMPENSATION
$6K
AGE
81
TENURE
13.3 yrs

Earl Weiner

TITLE
Independent Director
COMPENSATION
$7K
AGE
78
TENURE
12.2 yrs

Nancy Jacklin

TITLE
Independent Director
COMPENSATION
$6K
AGE
69
TENURE
12.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by AllianceBernstein Global High Income Fund insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. Feb 19 Buy Earl Weiner Individual 19. Feb 19 19. Feb 19 1,129 $11.51 $12,994
15. Feb 19 Sell Marshall Turner Individual 13. Feb 19 13. Feb 19 -4,000 $11.46 $-45,834
08. Jan 19 Buy Gershon Distenfeld Individual 07. Jan 19 07. Jan 19 1,038 $11.07 $11,491
26. Dec 18 Buy Seth Bernstein Individual 24. Dec 18 24. Dec 18 10,000 $10.19 $101,900
31. Oct 18 Buy Michael Downey Individual 30. Oct 18 30. Oct 18 3,000 $11.10 $33,300
12. Jul 18 Buy Gershon Distenfeld Individual 06. Jul 18 06. Jul 18 3,970 $11.49 $45,615
X
Management checks
We assess AllianceBernstein Global High Income Fund's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AllianceBernstein Global High Income Fund has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AWF News

Simply Wall St News

AWF Company Info

Description

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.

Details
Name: AllianceBernstein Global High Income Fund
AWF
Exchange: NYSE
Founded: 1993
$999,401,956
86,229,677
Website: http://www.abglobal.com/abcom/product_center/3_vehicle/mf/closedend/alliancebernstein_global_high_income.htm
Address: AllianceBernstein Global High Income Fund
1345 Avenue of the Americas,
New York,
New York, 10105,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AWF Common Stock New York Stock Exchange US USD 27. Jul 1993
Number of employees
Current staff
Staff numbers
0
AllianceBernstein Global High Income Fund employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 23:52
End of day share price update: 2019/03/20 00:00
Last earnings filing: 2018/12/06
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.