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

Shares of Palace Capital Plc (LON:PCA) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 184.76 and traded as low as GBX 175. Palace Capital shares last traded at GBX 175, with a volume of 2,280 shares changing hands.

Palace Capital Stock Up 4.3%

The stock has a 50-day moving average price of GBX 172.90 and a 200 day moving average price of GBX 184.76. The firm has a market capitalization of £35.63 million, a PE ratio of -7.10, a PEG ratio of 3.37 and a beta of 0.14.

Palace Capital (LON:PCA) last posted its quarterly earnings data on Thursday, June 11th. The company reported GBX (0.30) earnings per share (EPS) for the quarter. The company 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%. As a group, equities analysts predict that Palace Capital Plc will post 14.477562 earnings per share for the current fiscal year.

Palace Capital announced that its Board of Directors has initiated a share buyback program on Friday, April 17th that permits the company to repurchase 400,000,000,000 outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually 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