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Calamos Convertible and High Income Fund

Nasdaq:CHY
Snowflake Description

Undervalued with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CHY
Nasdaq
$575M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Calamos Convertible and High Income Fund is a closed ended fixed income mutual fund launched by Calamos Investments LLC. The last earnings update was 99 days ago. More info.


Add to Portfolio Compare Print
  • Calamos Convertible and 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.
  • Calamos Convertible and High Income Fund has significant price volatility in the past 3 months.
CHY Share Price and Events
7 Day Returns
-7.1%
NasdaqGS:CHY
-4.5%
US Capital Markets
-4.1%
US Market
1 Year Returns
-29.5%
NasdaqGS:CHY
-15.6%
US Capital Markets
-14.9%
US Market
CHY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Calamos Convertible and High Income Fund (CHY) -7.1% -29.5% -31.4% -29.5% -30% -45.8%
US Capital Markets -4.5% -21.1% -25.9% -15.6% -1% 16.9%
US Market -4.1% -19.1% -23.4% -14.9% 3.5% 14.5%
1 Year Return vs Industry and Market
  • CHY underperformed the Capital Markets industry which returned -15.6% over the past year.
  • CHY underperformed the Market in United States of America which returned -14.9% over the past year.

Value

 Is Calamos Convertible and 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 Calamos Convertible and 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 Calamos Convertible and High Income Fund.

NasdaqGS:CHY 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
= $11.50 * 8.7%
$1.00
Book Value of Equity per Share Median Book Value from the past 5 years. $11.50
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

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 NasdaqGS:CHY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.745 (1 + (1- 21%) (71.84%))
1.112
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.112 * 5.44%)
7.79%

Discounted Cash Flow Calculation for NasdaqGS:CHY using Excess Returns Model Model

The calculations below outline how an intrinsic value for Calamos Convertible and 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.

NasdaqGS:CHY Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.7% – 7.79%) * $11.50)
$0.10
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.10 / (7.79% - 1.74%)
$1.65
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $11.50 + $1.65
$13.15
NasdaqGS:CHY Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.15
Current discount Discount to share price of $7.85
= -1 x ($7.85 - $13.15) / $13.15
40.3%

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

Current Discount
Amount off the current price Calamos Convertible and High Income Fund is available for.
Intrinsic value
40%
Share price is $7.85 vs Future cash flow value of $13.15
Current Discount Checks
For Calamos Convertible and High Income Fund to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Calamos Convertible and High Income Fund's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Calamos Convertible and High Income Fund's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Calamos Convertible and High Income Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Calamos Convertible and High Income Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:CHY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-10-31) in USD $1.18
NasdaqGS:CHY Share Price ** NasdaqGS (2020-04-03) in USD $7.85
United States of America Capital Markets Industry PE Ratio Median Figure of 92 Publicly-Listed Capital Markets Companies 32.95x
United States of America Market PE Ratio Median Figure of 2,944 Publicly-Listed Companies 12.5x

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

** Primary Listing of Calamos Convertible and High Income Fund.

NasdaqGS:CHY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:CHY Share Price ÷ EPS (both in USD)

= 7.85 ÷ 1.18

6.68x

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

  • Calamos Convertible and High Income Fund is good value based on earnings compared to the US Capital Markets industry average.
  • Calamos Convertible and High Income Fund is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Calamos Convertible and High Income Fund's expected growth come at a high price?
Raw Data
NasdaqGS:CHY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.68x
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 35 Publicly-Listed Capital Markets Companies 1.91x
United States of America Market PEG Ratio Median Figure of 2,008 Publicly-Listed Companies 0.91x

*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 Calamos Convertible and 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 Calamos Convertible and High Income Fund's assets?
Raw Data
NasdaqGS:CHY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-10-31) in USD $11.18
NasdaqGS:CHY Share Price * NasdaqGS (2020-04-03) in USD $7.85
United States of America Capital Markets Industry PB Ratio Median Figure of 182 Publicly-Listed Capital Markets Companies 7.67x
United States of America Market PB Ratio Median Figure of 5,142 Publicly-Listed Companies 1.22x
NasdaqGS:CHY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:CHY Share Price ÷ Book Value per Share (both in USD)

= 7.85 ÷ 11.18

0.7x

* Primary Listing of Calamos Convertible and High Income Fund.

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

  • Calamos Convertible and High Income Fund is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Calamos Convertible and 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. Calamos Convertible and High Income Fund has a total score of 5/6, 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.

Future Performance

 How is Calamos Convertible and 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 Calamos Convertible and 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
5.7%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Calamos Convertible and High Income Fund expected to grow at an attractive rate?
  • Unable to compare Calamos Convertible and 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 Calamos Convertible and High Income Fund's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Calamos Convertible and 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
NasdaqGS:CHY 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 5.7%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.2%
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
NasdaqGS:CHY 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.
NasdaqGS:CHY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-10-31 63 86 86
2019-04-30 66 80 76
2019-01-31 66 74 47
2018-10-31 66 68 18
2018-07-31 64 37 44
2018-04-30 61 7 69
2018-01-31 61 9 101
2017-10-31 60 11 132
2017-07-31 60 48 128
2017-04-30 61 85 124
2017-01-31 61 116 67

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Calamos Convertible and High Income Fund is high growth as no earnings estimate data is available.
  • Unable to determine if Calamos Convertible and 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
NasdaqGS:CHY 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 Calamos Convertible and High Income Fund Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CHY Past Financials Data
Date (Data in USD Millions) EPS *
2019-10-31 1.18
2019-04-30 1.04
2019-01-31 0.65
2018-10-31 0.25
2018-07-31 0.60
2018-04-30 0.95
2018-01-31 1.38
2017-10-31 1.82
2017-07-31 1.76
2017-04-30 1.71
2017-01-31 0.93

*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 Calamos Convertible and High Income Fund will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Calamos Convertible and 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.
Calamos Convertible and 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.

Past Performance

  How has Calamos Convertible and 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 Calamos Convertible and 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.
  • Calamos Convertible and High Income Fund has delivered over 20% year on year earnings growth in the past 5 years.
  • Calamos Convertible and High Income Fund's 1-year earnings growth exceeds its 5-year average (374.3% vs 20.1%)
  • Calamos Convertible and High Income Fund's earnings growth has exceeded the US Capital Markets industry average in the past year (374.3% vs 9.7%).
Earnings and Revenue History
Calamos Convertible and 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 Calamos Convertible and High Income Fund Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CHY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-10-31 63.06 86.04 10.59
2019-04-30 65.68 76.42 10.78
2019-01-31 65.75 47.28 10.87
2018-10-31 65.82 18.14 10.97
2018-07-31 63.65 43.64 10.93
2018-04-30 61.49 69.13 10.88
2018-01-31 60.86 100.76 10.65
2017-10-31 60.23 132.38 10.43
2017-07-31 60.43 128.14 10.28
2017-04-30 60.63 123.91 10.13
2017-01-31 61.17 67.35 10.18
2016-10-31 61.71 10.79 10.24
2016-07-31 63.15 -42.87 10.65
2016-04-30 64.58 -96.53 11.06
2016-01-31 66.28 -71.88 11.47
2015-10-31 67.97 -47.24 11.88
2015-07-31 69.26 0.92 12.01
2015-04-30 70.55 49.09 12.14
2015-01-31 71.50 77.81 12.17
2014-10-31 72.45 106.53 12.19
2014-07-31 72.78 116.78 12.03
2014-04-30 73.11 127.03 11.87
2014-01-31 73.64 129.61 11.59
2013-10-31 74.17 132.19 11.31
2013-07-31 75.19 126.86 11.07
2013-04-30 76.21 121.54 10.83

*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.
  • Calamos Convertible and High Income Fund has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Calamos Convertible and High Income Fund used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Calamos Convertible and High Income Fund's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Calamos Convertible and 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.
Calamos Convertible and High Income Fund has a total score of 4/6, 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.

Health

 How is Calamos Convertible and 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 Calamos Convertible and High Income Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Calamos Convertible and High Income Fund's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Calamos Convertible and High Income Fund's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Calamos Convertible and 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 not covered by short term assets, assets are 0x 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 Calamos Convertible and High Income Fund Company Filings, last reported 5 months ago.

NasdaqGS:CHY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-10-31 818.41 413.07
2019-04-30 839.42 412.98
2019-01-31 839.42 412.98
2018-10-31 806.34 424.50
2018-07-31 806.34 424.50
2018-04-30 841.22 414.40
2018-01-31 841.22 414.40
2017-10-31 868.82 411.90
2017-07-31 868.82 411.90
2017-04-30 853.94 339.67
2017-01-31 853.94 339.67
2016-10-31 822.18 337.08
2016-07-31 822.18 337.08
2016-04-30 817.28 337.28
2016-01-31 817.28 337.28
2015-10-31 898.69 398.51
2015-07-31 898.69 398.51
2015-04-30 1,000.39 400.51
2015-01-31 1,000.39 400.51
2014-10-31 1,029.90 400.48
2014-07-31 1,029.90 400.48
2014-04-30 1,033.42 395.46
2014-01-31 1,033.42 395.46
2013-10-31 1,002.32 397.03 0.18
2013-07-31 1,002.32 397.03 0.18
2013-04-30 981.09 358.02
  • Calamos Convertible and High Income Fund's level of debt (50.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (38.9% vs 50.5% today).
  • Debt is well covered by operating cash flow (20.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4x coverage).
X
Financial health checks
We assess Calamos Convertible and 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. Calamos Convertible and High Income Fund has a total score of 2/6, 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.

Dividends

 What is Calamos Convertible and 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
12.99%
Current annual income from Calamos Convertible and High Income Fund dividends.
If you bought $2,000 of Calamos Convertible and High Income Fund shares you are expected to receive $260 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?
  • Calamos Convertible and High Income Fund's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (2.04%).
  • Calamos Convertible and High Income Fund's dividend is above the markets top 25% of dividend payers in United States of America (5.7%).
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
NasdaqGS:CHY 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 44 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1941 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

NasdaqGS:CHY Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-02 1.020 11.900
2020-02-03 1.020 8.689
2019-12-20 1.020 8.765
2019-12-02 1.020 8.934
2019-11-01 1.020 9.076
2019-10-01 1.020 9.234
2019-09-03 1.020 9.135
2019-08-01 1.020 9.169
2019-07-01 1.020 8.991
2019-06-03 1.020 9.438
2019-05-01 1.020 9.371
2019-04-01 1.020 9.250
2019-03-01 1.020 9.407
2019-02-01 1.020 9.296
2018-12-20 1.020 10.061
2018-12-03 1.020 10.180
2018-11-01 1.020 9.459
2018-10-01 1.020 9.112
2018-09-04 1.200 9.009
2018-08-01 1.200 9.224
2018-07-02 1.200 9.274
2018-06-01 1.200 9.452
2018-05-01 1.200 9.844
2018-04-03 1.200 10.041
2018-03-01 1.200 10.173
2018-02-01 1.200 10.313
2017-12-19 1.200 9.987
2017-12-01 1.200 10.116
2017-10-31 1.200 10.148
2017-09-29 1.200 10.062
2017-09-01 1.200 10.150
2017-07-31 1.200 10.186
2017-06-30 1.200 10.074
2017-06-01 1.200 10.136
2017-04-28 1.200 10.345
2017-03-31 1.200 10.530
2017-02-28 1.200 10.707
2017-01-31 1.200 10.648
2016-12-19 1.200 11.070
2016-12-01 1.200 11.437
2016-10-28 1.200 11.658
2016-09-30 1.200 11.059
2016-09-01 1.200 10.830
2016-07-29 1.200 10.663
2016-07-01 1.200 10.832
2016-05-31 1.200 11.530
2016-04-29 1.200 11.752
2016-04-01 1.200 11.616
2016-02-29 1.200 11.910
2016-01-29 1.200 13.060
2015-12-18 1.200 12.094
2015-11-30 1.200 11.374
2015-10-30 1.200 10.741
2015-09-29 1.200 10.659
2015-08-31 1.200 10.777
2015-07-31 1.200 10.177
2015-06-30 1.200 9.346
2015-05-29 1.200 8.536
2015-05-01 1.200 8.398
2015-04-01 1.200 8.333
2015-02-27 1.200 8.339
2015-01-30 1.200 8.313
2014-12-19 1.200 8.616
2014-11-26 1.200 8.578
2014-10-31 1.200 8.281
2014-09-29 1.200 8.585
2014-08-29 1.200 8.302
2014-08-01 1.200 8.307
2014-06-30 1.200 8.173
2014-05-30 1.200 8.175
2014-05-01 1.200 8.422
2014-03-31 1.200 8.664
2014-02-28 1.020 7.472
2014-01-31 1.020 7.614
2013-12-20 1.020 7.793
2013-11-29 1.020 7.947
2013-11-01 1.020 7.942
2013-09-30 1.020 8.110
2013-08-30 1.020 8.290
2013-08-01 1.020 8.261
2013-06-28 1.020 8.205
2013-05-31 1.020 8.160
2013-04-30 1.020 7.747
2013-03-28 1.020 8.020
2013-03-01 1.020 8.048
2013-02-01 1.020 8.083
2012-12-19 1.020 8.135
2012-11-01 1.020 8.390
2012-10-01 1.020 8.146
2012-08-31 1.020 8.047
2012-07-31 1.020 8.001
2012-06-29 1.020 8.124
2012-06-01 1.020 8.465
2012-04-30 1.020 8.389
2012-03-30 1.020 8.152
2012-03-01 1.020 8.078
2012-01-31 1.020 8.002
2011-12-19 1.020 8.443
2011-12-01 1.020 8.819
2011-10-31 1.020 8.797
2011-09-30 1.020 8.985
2011-09-01 1.020 8.843
2011-07-29 1.020 8.724
2011-07-01 1.020 7.914
2011-06-01 1.020 7.819
2011-05-02 1.020 7.505
2011-04-01 1.020 7.491
2011-03-01 1.020 7.556
2011-02-01 1.020 7.664
2010-12-20 1.020 8.040
2010-12-01 1.020 8.051
2010-11-01 1.020 7.763
2010-10-01 1.020 7.830
2010-09-01 1.020 8.070
2010-08-02 1.020 8.123
2010-07-01 1.020 8.323
2010-06-01 1.020 8.661
2010-05-03 1.020 8.523
2010-04-01 1.020 7.991
2010-03-01 1.020 8.372
2010-02-01 1.020 8.856
2009-12-21 1.020 8.655
2009-11-27 1.020 8.946
2009-11-02 1.020 8.911
2009-10-01 1.020 8.887
2009-09-01 1.020 9.072
2009-08-03 1.020 9.303
2009-07-02 1.020 9.854
2009-06-01 1.020 9.788
2009-05-01 1.020 10.404

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.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Calamos Convertible and High Income Fund's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x 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 Calamos Convertible and High Income Fund's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Calamos Convertible and High Income Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Calamos Convertible and High Income Fund has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Calamos Convertible and 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.
  • Calamos Convertible and High Income Fund has no CEO, or we have no data on them.
Management Team

John Calamos

TITLE
Chairman & President
AGE
78
TENURE
17.3 yrs

Bob Behan

TITLE
President and Head of Global Distribution
AGE
54

Matt Freund

TITLE
Co-Portfolio Manager
Board of Directors Tenure

Average tenure and age of the Calamos Convertible and High Income Fund board of directors in years:

16.3
Average Tenure
69
Average Age
  • The average tenure for the Calamos Convertible and High Income Fund board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Jack Neal

TITLE
Independent Trustee
COMPENSATION
$9K
AGE
69
TENURE
19.3 yrs

John Calamos

TITLE
Chairman & President
AGE
78

David Tripple

TITLE
Independent Trustee
COMPENSATION
$9K
AGE
75
TENURE
14.3 yrs

Stephen Timbers

TITLE
Lead Independent Trustee
COMPENSATION
$10K
AGE
75
TENURE
15.3 yrs

William Rybak

TITLE
Independent Trustee
COMPENSATION
$8K
AGE
68
TENURE
18.3 yrs

Weston Marsh

TITLE
Independent Trustee
COMPENSATION
$8K
AGE
68
TENURE
17.3 yrs

Ginnie Breen

TITLE
AGE
55
TENURE
5.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Calamos Convertible and High Income Fund individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. Feb 20 Buy Lloyd Wennlund Individual 07. Feb 20 07. Feb 20 4,200 $11.94 $50,123
20. Dec 19 Sell David Tripple Individual 19. Dec 19 19. Dec 19 -300 $11.49 $-3,447
X
Management checks
We assess Calamos Convertible and 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. Calamos Convertible and 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.

News

Simply Wall St News

Company Info

Description

Calamos Convertible and High Income Fund is a closed ended fixed income mutual fund launched by Calamos Investments LLC. It is managed by Calamos Advisors LLC. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of convertible securities and high yield corporate bonds rated Ba or lower by Moody’s or BB or lower by Standard & Poor’s. The fund employs both fundamental and quantitative analysis to create its portfolio. Calamos Convertible and High Income Fund was formed on March 12, 2003 and is domiciled in the United States.

Details
Name: Calamos Convertible and High Income Fund
CHY
Exchange: NasdaqGS
Founded: 2003
$575,015,663
73,250,403
Website: http://fundinvestor.calamos.com/ClosedEndFunds/CEFund.aspx?name=CHY
Address: Calamos Convertible and High Income Fund
2020 Calamos Court,
Naperville,
Illinois, 60563-2787,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS CHY Common Stock Nasdaq Global Select US USD 28. May 2003
Number of employees
Current staff
Staff numbers
0
Calamos Convertible and 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: 2020/04/04 00:38
End of day share price update: 2020/04/03 00:00
Last earnings filing: 2019/12/27
Last earnings reported: 2019/10/31
Last annual earnings reported: 2019/10/31


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.