Palace Capital (LON:PCA – Get Free Report) announced its quarterly earnings data on Thursday. The company reported GBX (0.30) earnings per share for the quarter, Digital Look Earnings reports. The firm had revenue of GBX 355 million for the quarter. Palace Capital had a negative net margin of 67.58% and a negative return on equity of 11.17%.
Palace Capital Price Performance
Shares of Palace Capital stock opened at GBX 166 on Friday. The business’s 50 day simple moving average is GBX 171.02 and its two-hundred day simple moving average is GBX 193.41. The stock has a market capitalization of £32.41 million, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 3.37 and a beta of 0.13. Palace Capital has a one year low of GBX 160 and a one year high of GBX 234.
Palace Capital declared that its Board of Directors has approved a share buyback program on Friday, April 17th that authorizes the company to repurchase 400,000,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are 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
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