Berenberg Bank reiterated its hold rating for shares of InterContinental Hotels Group (LON:IHG – Free Report) In a research note published on Thursday, MarketBeat Ratings reports. The brokerage currently has a price target of £7,400 ($94.48) on the stock.
A number of other brokerage firms have also recently commented on IHG. Jefferies Financial Group reiterated a hold rating and set a price target of GBX 84 ($1.07) on shares of InterContinental Hotels Group in a research report on Tuesday, May 21. Deutsche Bank Aktiengesellschaft reiterated a hold rating and set a price target of GBX 8,300 ($105.98) on shares of InterContinental Hotels Group in a research report on Thursday, August 1. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given the stock a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 5,847.33 ($74.66).
Check out our latest InterContinental Hotels Group stock report
InterContinental Hotels Group records 0.3% decline
InterContinental Hotels Group shares opened at £7,466 ($95.33) on Thursday. The company has a 50-day moving average price of £7,996.52 and a 200-day moving average price of £7,986.24. InterContinental Hotels Group has a twelve-month low of £5,636 ($71.96) and a twelve-month high of £8,790 ($112.23). The stock has a market capitalization of £11.97 billion, a price-to-earnings ratio of 2,439.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00.
InterContinental Hotels Group cuts dividend
The company also recently announced a dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, August 29th will receive a dividend of $0.53. The ex-dividend date of this dividend is Thursday, August 29th, representing a yield of 0.57%. InterContinental Hotels Group’s dividend payout ratio is currently 4,019.61%.
Insiders place their bets
In related news, insider Ron Kalifa purchased 679 shares of the company’s stock on Tuesday, August 6. The shares were acquired at an average price of £7,624 ($97.34) per share, for a total transaction of £51,766.96 ($66,096.73). 5.97% of the shares are currently owned by insiders of the company.
About InterContinental Hotels Group
(Get free report)
InterContinental Hotels Group PLC owns, manages, franchises and leases hotels in the Americas, Europe, Asia, the Middle East, Africa and Greater China. The company operates hotels under the brand names Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations and Candlewood Suites.
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