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An update from InterContinental Hotels ( (GB:IHG) ) is now available.
InterContinental Hotels Group PLC announced the repurchase of 38,635 of its ordinary shares on the London Stock Exchange, as part of a buyback program authorized by shareholders. This transaction, executed through Merrill Lynch International, is part of the company’s strategy to manage its capital structure and enhance shareholder value. The purchased shares are intended to be canceled, reducing the total number of shares in circulation, which could potentially increase the value of remaining shares and improve earnings per share.
The most recent analyst rating on (GB:IHG) stock is a Sell with a £8000.00 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’ stock score is primarily driven by its strong technical performance, indicating bullish momentum. However, financial performance is mixed, with strong revenue growth offset by concerns over high leverage and negative equity. Valuation is moderate, with a relatively high P/E ratio and low dividend yield. The absence of earnings call data and corporate events means these factors do not influence the score.
To see Spark’s full report on GB:IHG stock, click here.
More about InterContinental Hotels
InterContinental Hotels Group PLC is a multinational hospitality company that operates a range of hotel brands across the globe. The company is primarily focused on providing accommodation services and is a significant player in the global hotel industry.
Average Trading Volume: 448,917
Technical Sentiment Signal: Strong Buy
Current Market Cap: £14.99B
Learn more about IHG stock on TipRanks’ Stock Analysis page.