Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Invesco High Income 2024 Target Term Fund (IHTA)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$20.55 - $29.58$24.95
Multi-Stage$33.24 - $36.51$34.85
Blended Fair Value$29.90
Current Price$7.50
Upside298.66%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS-6.77%0.00%0.400.430.510.570.560.560.090.000.000.00
YoY Growth---6.97%-15.92%-10.94%1.87%-0.73%502.62%0.00%0.00%0.00%0.00%
Dividend Yield--5.24%5.29%5.57%6.04%5.40%5.86%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)25.51
(-) Cash Dividends Paid (M)6.84
(=) Cash Retained (M)18.67
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.103.191.91
Cash Retained (M)18.6718.6718.67
(-) Cash Required (M)-5.10-3.19-1.91
(=) Excess Retained (M)13.5715.4816.76
(/) Shares Outstanding (M)8.798.798.79
(=) Excess Retained per Share1.541.761.91
LTM Dividend per Share0.780.780.78
(+) Excess Retained per Share1.541.761.91
(=) Adjusted Dividend2.322.542.69
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$20.55$24.95$29.58
Upside / Downside173.95%232.72%294.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)25.5125.2625.0124.7624.5124.2624.99
Payout Ratio26.82%39.45%52.09%64.73%77.36%90.00%92.50%
Projected Dividends (M)6.849.9713.0316.0218.9621.8423.12

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)9.049.149.23
Year 2 PV (M)10.7310.9511.17
Year 3 PV (M)11.9812.3512.72
Year 4 PV (M)12.8613.3913.94
Year 5 PV (M)13.4414.1414.87
PV of Terminal Value (M)234.02246.20258.89
Equity Value (M)292.06306.16320.82
Shares Outstanding (M)8.798.798.79
Fair Value$33.24$34.85$36.51
Upside / Downside343.20%364.60%386.85%

High-Yield Dividend Screener

« Prev Page 10 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ESPEspey Mfg. & Electronics Corp.3.53%$1.6554.01%
F-PCFord Motor Company 6% Notes due3.53%$0.7463.45%
TECTPTectonic Financial, Inc.3.53%$0.3879.28%
AMFCXAmerican Funds American Mutual Fund3.52%$2.0690.87%
CRCCalifornia Resources Corporation3.52%$1.6435.94%
FAFFirst American Financial Corporation3.51%$2.1446.13%
GICGlobal Industrial Company3.51%$1.0358.36%
0R0G.LMondelez International, Inc.3.50%$1.8969.92%
DCPDCP Midstream, LP3.50%$1.4634.00%
LWLamb Weston Holdings, Inc.3.50%$1.4870.35%
WSOWatsco, Inc.3.50%$12.1683.88%
0QYY.LHarley-Davidson, Inc.3.49%$0.7217.57%
LKFNLakeland Financial Corporation3.49%$1.9752.13%
TRSTTrustCo Bank Corp NY3.49%$1.4448.14%
OMCOmnicom Group Inc.3.47%$2.8341.26%
PROVProvident Financial Holdings, Inc.3.47%$0.5561.73%
UTLUnitil Corporation3.47%$1.7061.75%
BF-ABrown-Forman Corporation3.45%$0.9152.84%
COFSChoiceOne Financial Services, Inc.3.45%$1.0070.38%
FCBPFirst Choice Bancorp3.45%$1.0034.34%
NXSTNexstar Media Group, Inc.3.45%$7.2042.75%
STBAS&T Bancorp, Inc.3.45%$1.3529.75%
VABKVirginia National Bankshares Corporation3.45%$1.3755.94%
F-PBFord Motor Company 6.20% Notes3.44%$0.7463.45%
0K3B.LThe Mosaic Company3.43%$0.8722.53%
CPFCentral Pacific Financial Corp.3.43%$1.0743.87%
CTBICommunity Trust Bancorp, Inc.3.43%$1.9337.41%
IIINInsteel Industries, Inc.3.43%$1.1153.05%
JJSFJ&J Snack Foods Corp.3.43%$3.1192.62%
TMPTompkins Financial Corporation3.43%$2.4942.22%
ALRSAlerus Financial Corporation3.41%$0.7739.09%
CNXCConcentrix Corporation3.41%$1.4028.16%
FBPFirst BanCorp.3.41%$0.7134.06%
GLOClough Global Opportunities Fund3.41%$0.1915.90%
OPBKOP Bancorp3.41%$0.4830.19%
PHXPHX Minerals Inc.3.39%$0.1581.44%
WHGWestwood Holdings Group, Inc.3.39%$0.6073.76%
SCVLShoe Carnival, Inc.3.38%$0.5928.17%
OGSONE Gas, Inc.3.37%$2.6161.93%
VALUValue Line, Inc.3.36%$1.2555.36%
WTRGEssential Utilities, Inc.3.36%$1.3054.79%
AVNTAvient Corporation3.35%$1.0686.14%
KTBKontoor Brands, Inc.3.35%$2.0653.00%
VCTRVictory Capital Holdings, Inc.3.35%$2.1548.89%
WAFDWaFd, Inc.3.35%$1.0837.44%
PBProsperity Bancshares, Inc.3.34%$2.3241.44%
PFGPrincipal Financial Group, Inc.3.34%$2.9943.04%
EVBNEvans Bancorp, Inc.3.33%$1.3160.97%
NFYSEnphys Acquisition Corp.3.33%$0.3768.70%
KMPRKemper Corporation3.32%$1.3132.45%