InterContinental Hotels Group PLC (IHG) Shares Down 2%
InterContinental Hotels Group PLC (LON:IHG) shares traded down 2% during mid-day trading on Friday . The company traded as low as GBX 3,656 ($47.22) and last traded at GBX 3,668 ($47.37). 603,101 shares traded hands during trading, an increase of 23% from the average session volume of 490,049 shares. The stock had previously closed at GBX 3,742 ($48.33).
A number of research analysts have recently issued reports on the stock. Citigroup Inc. reduced their price objective on shares of InterContinental Hotels Group PLC from GBX 4,400 ($56.83) to GBX 3,900 ($50.37) and set a “neutral” rating for the company in a report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of InterContinental Hotels Group PLC in a report on Monday, September 11th. Morgan Stanley reduced their price objective on shares of InterContinental Hotels Group PLC from GBX 4,000 ($51.66) to GBX 3,700 ($47.79) and set an “underweight” rating for the company in a report on Tuesday, September 5th. Barclays PLC reiterated an “equal weight” rating and set a GBX 4,000 ($51.66) price objective on shares of InterContinental Hotels Group PLC in a report on Thursday, August 31st. Finally, Bryan, Garnier & Co reiterated a “sell” rating and set a GBX 3,520 ($45.46) price objective on shares of InterContinental Hotels Group PLC in a report on Thursday, August 24th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 3,836.07 ($49.54).
The stock’s market cap is GBX 7.19 billion. The firm’s 50-day moving average price is GBX 3,980.35 and its 200-day moving average price is GBX 4,154.17.
The company also recently disclosed a dividend, which will be paid on Friday, October 6th. Investors of record on Thursday, August 31st will be given a dividend of $0.33 per share. This represents a yield of 0.61%. The ex-dividend date of this dividend is Thursday, August 31st.
InterContinental Hotels Group PLC Company Profile
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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