Intercontinental Hotels Group Plans Dividend of $0.65 (NYSE:IHG)

Intercontinental Hotels Group (NYSE:IHG) announced a dividend on Tuesday, August 11th. Investors of record on Friday, August 21st will be paid a dividend of 0.645 per share on Thursday, October 1st. This represents a yield of 83.0%. The ex-dividend date is Friday, August 21st.

Intercontinental Hotels Group has raised its dividend payment by an average of 0.1%per year over the last three years. Intercontinental Hotels Group has a payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Intercontinental Hotels Group to earn $6.81 per share next year, which means the company should continue to be able to cover its $2.43 annual dividend with an expected future payout ratio of 35.7%.

Intercontinental Hotels Group Price Performance

Intercontinental Hotels Group stock traded up $2.51 during mid-day trading on Wednesday, reaching $158.38. 92,832 shares of the company were exchanged, compared to its average volume of 253,637. The company has a fifty day simple moving average of $163.75 and a 200-day simple moving average of $149.46. Intercontinental Hotels Group has a 12 month low of $117.29 and a 12 month high of $175.89.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IHG. Sanford C. Bernstein raised their price target on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research report on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. Jefferies Financial Group increased their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Finally, Zacks Research downgraded shares of Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.