Intercontinental Hotels Group (NYSE:IHG) issued its earnings results on Tuesday. The company reported $0.84 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84, MarketWatch Earnings reports.

Intercontinental Hotels Group (NYSE IHG) traded down 3.796% on Tuesday, reaching $54.875. The company had a trading volume of 236,232 shares. Intercontinental Hotels Group has a 52-week low of $39.83 and a 52-week high of $57.80. The stock has a 50 day moving average price of $55.95 and a 200 day moving average price of $52.84. The stock has a market capitalization of $10.33 billion, a PE ratio of 27.152 and a beta of 1.34.

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Several brokerages have recently weighed in on IHG. Bank of America Corporation restated a “buy” rating on shares of Intercontinental Hotels Group in a report on Tuesday, July 25th. Zacks Investment Research upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, June 7th. BidaskClub cut Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Credit Suisse Group cut Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a report on Monday, June 19th. They noted that the move was a valuation call. Finally, Morgan Stanley cut Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Intercontinental Hotels Group presently has a consensus rating of “Hold” and an average target price of $50.33.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

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