InterContinental Hotels Group (LON:IHG) Stock Crosses Above 200 Day Moving Average of $7,130.11

Shares of InterContinental Hotels Group PLC (LON:IHG) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 7,130.11 ($88.76) and traded as high as GBX 7,908 ($98.44). InterContinental Hotels Group shares last traded at GBX 7,794 ($97.02), with a volume of 254,573 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IHG shares. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 6,400 ($79.67) target price on shares of InterContinental Hotels Group in a report on Tuesday, February 20th. JPMorgan Chase & Co. increased their target price on shares of InterContinental Hotels Group from GBX 5,400 ($67.22) to GBX 6,100 ($75.94) and gave the company an “underweight” rating in a report on Tuesday, February 27th. Berenberg Bank increased their target price on shares of InterContinental Hotels Group from GBX 6,000 ($74.69) to GBX 7,400 ($92.12) and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, Citigroup reiterated a “sell” rating on shares of InterContinental Hotels Group in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 6,415 ($79.86).

InterContinental Hotels Group Price Performance

The firm has a market cap of £12.84 billion, a PE ratio of 2,233.14, a P/E/G ratio of 1.81 and a beta of 0.98. The business’s fifty day moving average is GBX 8,120.32 and its 200-day moving average is GBX 7,146.56.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Thursday, April 4th will be given a dividend of $1.04 per share. This represents a yield of 1.04%. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from InterContinental Hotels Group’s previous dividend of $0.48. InterContinental Hotels Group’s dividend payout ratio (DPR) is currently 3,457.14%.

InterContinental Hotels Group Company Profile

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 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 brand names.