InterContinental Hotels Group PLC (LON:IHG) Given Consensus Rating of “Hold” by Brokerages
InterContinental Hotels Group PLC (LON:IHG) has earned an average recommendation of “Hold” from the twenty-one ratings firms that are presently covering the firm. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is GBX 2,871.42 ($37.48).
IHG has been the topic of a number of recent research reports. Goldman Sachs Group Inc. lowered InterContinental Hotels Group PLC to an “underweight” rating and cut their price target for the company from GBX 3,300 ($43.08) to GBX 3,100 ($40.46) in a research note on Monday, September 26th. Deutsche Bank AG cut their price target on InterContinental Hotels Group PLC from GBX 2,770 ($36.16) to GBX 2,660 ($34.72) and set a “hold” rating on the stock in a research note on Tuesday, June 28th. Credit Suisse Group AG reissued an “outperform” rating and set a GBX 3,000 ($39.16) price target on shares of InterContinental Hotels Group PLC in a research note on Thursday, June 9th. Morgan Stanley lowered InterContinental Hotels Group PLC from an “equal” rating to an “underweight” rating and cut their price target for the company from GBX 3,300 ($43.08) to GBX 3,100 ($40.46) in a research note on Monday, September 26th. Finally, JPMorgan Chase & Co. cut their price target on InterContinental Hotels Group PLC from GBX 2,865 ($37.40) to GBX 2,723 ($35.54) and set an “underweight” rating on the stock in a research note on Wednesday, June 29th.
Shares of InterContinental Hotels Group PLC (LON:IHG) traded down 1.72% during mid-day trading on Wednesday, hitting GBX 3265.00. The stock had a trading volume of 863,675 shares. InterContinental Hotels Group PLC has a 1-year low of GBX 2,162.48 and a 1-year high of GBX 3,376.00. The stock’s 50-day moving average is GBX 3,252.59 and its 200-day moving average is GBX 3,059.04. The firm’s market capitalization is GBX 7.44 billion.
The company also recently disclosed a dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 1st will be issued a dividend of GBX 22.60 ($0.30) per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a dividend yield of 0.73%.
In other news, insider Solomons,Richard sold 55,782 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of GBX 3,078 ($40.18), for a total transaction of £1,716,969.96 ($2,241,182.56).
InterContinental Hotels Group PLC Company Profile
InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.
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