Palace Capital (LON:PCA) Reaches New 52-Week Low – What’s Next?

Palace Capital Plc (LON:PCA) shares hit a new 52-week low on Wednesday . The company traded as low as GBX 160 and last traded at GBX 170.50, with a volume of 103202 shares trading hands. The stock had previously closed at GBX 166.50.

Palace Capital Trading Up 0.2%

The company’s 50 day moving average price is GBX 169.73 and its 200-day moving average price is GBX 192.36. The company has a market capitalization of £33.25 million, a PE ratio of 20.52, a PEG ratio of 3.37 and a beta of 0.13.

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

Palace Capital announced that its Board of Directors has approved a stock buyback program on Friday, April 17th that permits the company to buyback 400,000,000,000 shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Palace Capital

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