Intercontinental Hotels Group (IHG) Posts Quarterly Earnings Results, Meets Estimates

Solenn Plantier
Août 9, 2017

Beaufort Securities restated a "buy" rating on shares of InterContinental Hotels Group PLC in a research note on Monday, May 8th. Liberum Capital began coverage on InterContinental Hotels Group PLC in a research report on Wednesday, July 5th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Finally, Credit Suisse Group lowered shares of InterContinental Hotels Group PLC to a neutral rating and boosted their price target for the stock from GBX 4,500 ($59.36) to GBX 4,600 ($60.68) in a research report on Monday, June 19th. BidaskClub cut Intercontinental Hotels Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, June 13th. The company has a 50-day moving average price of $55.95 and a 200-day moving average price of $52.84. InterContinental Hotels Group PLC has a 12-month low of GBX 2,855.00 and a 12-month high of GBX 4,492.00. The company's market cap is GBX 8.20 billion.

InterContinental Hotels Group PLC (LON:IHG) opened at 4355.00 on Wednesday. If you are reading this piece on another website, it was stolen and republished in violation of U.S. & global trademark & copyright laws. The correct version of this piece can be viewed at https://sportsperspectives.com/2017/08/06/intercontinental-hotels-group-nyseihg-to-release-earnings-on-tuesday.html.

Several large investors have recently bought and sold shares of the stock.

Reuters meanwhile quoted Steve Clayton, who manages HL Select UK Growth Shares fund which holds InterContinental shares worth £10.4 million, as expressing confidence in the FTSE 100 company's prospects. Jane Street Group LLC acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth approximately $21,249,000. Dubuque Bank & Trust Co. purchased a new position in shares of Intercontinental Hotels Group during the first quarter worth $1,366,000. CIBC World Markets Inc. increased its stake in Intercontinental Hotels Group by 20.1% in the first quarter. The company reported $0.84 earnings per share for the quarter, meeting the consensus estimate of $0.84, MarketWatch Earnings reports. However, the group also said that growth in revenue per available room, or revPAR, a key industry metric, slowed to 1.5% from 2.5% over the same period past year and 2.7% in the first quarter.

Intercontinental Hotels Group (NYSE IHG) traded down 3.796% on Tuesday, reaching $54.875.

Owner of Holiday Inn, Crowne Plaza and Hotel Indigo brands reported 4% rise in revenues and 7% rise in operating profits.

Geographically, Revenue per available room was up 1.1% in the Americas, 6.2% in Europe, 1.4% in Asia, the Middle East & Africa, and 4.1% in Greater China.

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