Intercontinental Hotels Group (NYSE:IHG) Announces $0.65 Dividend

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

Intercontinental Hotels Group has increased its dividend payment by an average of 0.1%annually over the last three years. Intercontinental Hotels Group has a payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 2.1%

NYSE IHG traded up $3.22 during trading hours on Wednesday, reaching $159.09. 115,875 shares of the stock traded hands, compared to its average volume of 253,778. The stock has a 50 day simple moving average of $163.75 and a two-hundred day simple moving average of $149.46. Intercontinental Hotels Group has a 1 year low of $117.29 and a 1 year high of $175.89.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IHG shares. Sanford C. Bernstein increased their price objective on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company 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 upped their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a research note 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 note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Read Our Latest Stock Report on Intercontinental Hotels Group

Intercontinental Hotels Group Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Intercontinental Hotels Group (NYSE:IHG)

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