Palace Capital (LON:PCA) Stock Passes Below 200 Day Moving Average – Time to Sell?

Palace Capital Plc (LON:PCA) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 Trading Up 0.7%

The business has a 50-day moving average of GBX 173.12 and a two-hundred day moving average of GBX 184.70. The firm has a market cap of £28.00 million, a P/E ratio of -6.86, a price-to-earnings-growth ratio of 3.37 and a beta of 0.14.

Palace Capital (LON:PCA) last posted its earnings results on Thursday, June 11th. The company reported GBX (0.30) EPS for the quarter. Palace Capital had a negative net margin of 67.58% and a negative return on equity of 11.17%. The firm had revenue of GBX 355 million during the quarter. As a group, equities analysts expect that Palace Capital Plc will post 14.477562 EPS for the current year.

Palace Capital declared that its board has initiated a stock buyback plan on Friday, April 17th that permits the company to repurchase 400,000,000,000 shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is 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