Palace Capital (LON:PCA) Shares Cross Below 50-Day Moving Average – Should You Sell?

Palace Capital Plc (LON:PCA)’s stock price crossed 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.

Palace Capital Stock Performance

The company has a 50 day moving average of GBX 168.63 and a 200 day moving average of GBX 191.29. The stock has a market capitalization of £32.02 million, a price-to-earnings ratio of 19.76, a P/E/G 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. On average, equities analysts predict that Palace Capital Plc will post 14.477562 EPS for the current fiscal year.

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