Palace Capital (LON:PCA) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Palace Capital Plc (LON:PCA)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 188.56 and traded as low as GBX 180.50. Palace Capital shares last traded at GBX 183.60, with a volume of 21,517 shares trading hands.

Palace Capital Stock Up 1.6%

The firm’s 50 day moving average is GBX 168.79 and its 200-day moving average is GBX 188.56. The firm has a market cap of £36.12 million, a PE ratio of -7.20, a P/E/G ratio of 3.37 and a beta of 0.14.

Palace Capital (LON:PCA) last issued its quarterly earnings results on Thursday, June 11th. The company reported GBX (0.30) earnings per share (EPS) for the quarter. Palace Capital had a negative return on equity of 11.17% and a negative net margin of 67.58%.The business had revenue of GBX 355 million during the quarter. On average, analysts forecast that Palace Capital Plc will post 14.477562 earnings per share for the current year.

Palace Capital declared that its Board of Directors has authorized a share repurchase plan on Friday, April 17th that allows the company to buyback 400,000,000,000 outstanding shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Palace Capital Company Profile

Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London