InterContinental Hotels Group Executes Share Buyback

InterContinental Hotels ( (GB:IHG) ) has provided an announcement.

InterContinental Hotels Group PLC announced the repurchase of 28,991 of its ordinary shares on the London Stock Exchange, as part of a buyback program authorized by shareholders. The company intends to cancel these shares, which could potentially enhance shareholder value by reducing the number of shares outstanding, thereby increasing earnings per share.

The most recent analyst rating on (GB:IHG) stock is a Sell with a £96.00 price target. To see the full list of analyst forecasts on InterContinental Hotels stock, see the GB:IHG Stock Forecast page.

Spark’s Take on GB:IHG Stock

According to Spark, TipRanks’ AI Analyst, GB:IHG is a Neutral.

InterContinental Hotels shows robust revenue growth and strategic expansion, supported by positive earnings call sentiment and corporate actions like share buybacks. However, high leverage and valuation concerns temper the outlook.

To see Spark’s full report on GB:IHG stock, click here.

More about InterContinental Hotels

InterContinental Hotels Group PLC operates in the hospitality industry, offering a range of hotel services and accommodations globally. The company focuses on providing luxury and mid-scale hotel experiences to travelers and has a significant presence in the international market.

Average Trading Volume: 582,281

Technical Sentiment Signal: Buy

Current Market Cap: £13.15B

Find detailed analytics on IHG stock on TipRanks’ Stock Analysis page.