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InterContinental Hotels ( (GB:IHG) ) just unveiled an announcement.
InterContinental Hotels Group PLC announced the repurchase of 59,014 of its ordinary shares on the London Stock Exchange, as part of a buyback program authorized by shareholders. This move is intended to cancel the purchased shares, thereby reducing the total number of shares in circulation, which could potentially enhance shareholder value and improve earnings per share.
The most recent analyst rating on (GB:IHG) stock is a Sell with a £8600.00 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 has a strong earnings outlook and robust strategic initiatives, which are significant positives. However, these are balanced by concerns over financial stability due to negative equity and high leverage, as well as technical indicators suggesting a bearish trend. Valuation metrics also suggest the stock may be overvalued.
To see Spark’s full report on GB:IHG stock, click here.
More about InterContinental Hotels
InterContinental Hotels Group PLC is a prominent player in the hospitality industry, offering a wide range of hotel and resort services across the globe. The company is known for its diverse portfolio of brands catering to various market segments, from luxury to economy, and focuses on delivering exceptional guest experiences.
Average Trading Volume: 554,313
Technical Sentiment Signal: Buy
Current Market Cap: £12.59B
For detailed information about IHG stock, go to TipRanks’ Stock Analysis page.