Intercontinental Hotels surges on US$400m special dividend
- Author: Zachary Reyes Feb 21, 2017,
Feb 21, 2017, 18:44
2/21/2017-Numis Securities Ltd Reiterated Rating of Hold. The stock's market cap is GBX 8.84 billion.
The company, which runs over 5,000 hotels in about 100 countries under brands such as Crowne Plaza, Holiday Inn and InterContinental, said on Tuesday it also expected a pick-up in demand from oil industry customers this year as recovering crude prices reduce the squeeze on that sector. The firm has a 50 day moving average price of GBX 3,731.43 and a 200 day moving average price of GBX 3,377.72.
InterContinental Hotels Group PLC (LON:IHG)'s stock had its "overweight" rating reissued by investment analysts at Barclays PLC in a research report issued to clients and investors on Thursday. If you are accessing this news story on another website, it was copied illegally and republished in violation of United States & worldwide copyright and trademark legislation.
IHG was harder hit than some rivals in 2016 by an oil industry slump as 14 percent of its US rooms are in oil-producing states, higher than an average of about 10 percent for big USA hotel chains. With the interim dividend per ordinary share of 30.0 cents, the full-year dividend per ordinary share for 2016 will total 94.0 cents, an increase of 11% over 2015.
InterContinental Hotels Group PLC has a 52 week low of 2,404.00GBX and a 52 week high of 4,029.00GBX with a P/E ratio of 7.92 The company's market cap is now 0 GBX.
Yesterday InterContinental Hotels Group PLC (LON:IHG) traded 0.59% higher at 3,930.50GBX.
Shares in InterContinental Hotels Group (LON:IHG) have jumped more than one percent in London this morning, outperforming the broader market, as the company announced plans to return $400 million to shareholders. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company's stock. The company presently has an average rating of "Hold" and a consensus target price of GBX 3,156.27 ($39.44). The Group said revenue decreased primarily as a result of the sale of InterContinental Paris - Le Grand and InterContinental Hong Kong. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis.