Intercontinental Hotels Group (NYSE:IHG) Announces Quarterly Earnings Results
Intercontinental Hotels Group (NYSE:IHG) released its earnings results on Tuesday. The company reported $0.84 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84, MarketWatch Earnings reports.
Shares of Intercontinental Hotels Group (NYSE IHG) traded down 3.796% during trading on Tuesday, hitting $54.875. 236,232 shares of the company’s stock were exchanged. Intercontinental Hotels Group has a 1-year low of $39.83 and a 1-year high of $57.80. The stock’s 50 day moving average is $55.95 and its 200 day moving average is $52.84. The firm has a market capitalization of $10.33 billion, a PE ratio of 27.152 and a beta of 1.34.
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Several analysts have commented on IHG shares. Zacks Investment Research raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, May 9th. Morgan Stanley cut shares of Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 15th. Credit Suisse Group cut shares of Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. BidaskClub cut shares of Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $50.33.
About Intercontinental Hotels Group
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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