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

Palace Capital Plc (LON:PCA)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-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 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. The firm has a fifty day moving average of GBX 168.63 and a 200-day moving average of GBX 191.29.

Palace Capital (LON:PCA) last issued its quarterly earnings data on Thursday, June 11th. The company reported GBX (0.30) EPS for the quarter. The company 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%. On average, analysts predict that Palace Capital Plc will post 14.477562 EPS for the current year.

Palace Capital announced that its board has initiated a share repurchase plan on Friday, April 17th that authorizes the company to repurchase 400,000,000,000 shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Palace Capital Company Profile

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