Palace Capital (LON:PCA) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Palace Capital Plc (LON:PCA)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 188.56 and traded as low as GBX 180.50. Palace Capital shares last traded at GBX 183.60, with a volume of 21,517 shares changing hands.

Palace Capital Stock Performance

The stock’s 50-day moving average is GBX 168.79 and its 200 day moving average is GBX 188.56. The stock has a market capitalization of £36.12 million, a PE ratio of -7.20, a P/E/G ratio of 3.37 and a beta of 0.14.

Palace Capital (LON:PCA) last released its quarterly earnings results on Thursday, June 11th. The company reported GBX (0.30) EPS 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%. Analysts expect that Palace Capital Plc will post 14.477562 earnings per share for the current year.

Palace Capital declared that its board has initiated a stock 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 reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management 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