Palace Capital (LON:PCA) Stock Crosses Below Fifty Day Moving Average – What’s Next?

by · The Markets Daily

Palace Capital Plc (LON:PCA – Get Free Report) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 168.63 and traded as low as GBX 164. Palace Capital shares last traded at GBX 164, with a volume of 55,891 shares traded.

Palace Capital Trading Down 0.6%

The stock has a market capitalization of £32.22 million, a P/E ratio of 19.88, a P/E/G ratio of 3.37 and a beta of 0.13. The firm’s fifty day moving average is GBX 167.95 and its 200-day moving average is GBX 190.80.

Palace Capital (LON:PCA – Get Free Report) last issued its quarterly earnings data on Thursday, June 11th. The company reported GBX (0.30) earnings per share for the quarter. The firm had revenue of GBX 355 million for the quarter. Palace Capital had a negative return on equity of 11.17% and a negative net margin of 67.58%. Equities research analysts expect that Palace Capital Plc will post 14.477562 EPS for the current year.

Palace Capital announced that its board has approved a share buyback program on Friday, April 17th that allows the company to buyback 400,000,000,000 outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Palace Capital Company Profile

(Get Free Report)

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

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