Palace Capital (LON:PCA) Sets New 52-Week Low – Here’s Why

Palace Capital Plc (LON:PCA)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as GBX 160 and last traded at GBX 166, with a volume of 415386 shares. The stock had previously closed at GBX 169.

Palace Capital Stock Down 1.8%

The company has a market cap of £32.41 million, a P/E ratio of 20.00, a PEG ratio of 3.37 and a beta of 0.13. The firm has a 50 day moving average of GBX 171.58 and a 200-day moving average of GBX 193.91.

Palace Capital (LON:PCA) last announced its quarterly earnings data on Thursday, June 11th. The company reported GBX (0.30) earnings per share (EPS) for the quarter. Palace Capital had a return on equity of 4.33% and a net margin of 28.80%.The firm had revenue of GBX 355 million during the quarter. On average, research analysts predict that Palace Capital Plc will post 14.477562 EPS for the current fiscal year.

Palace Capital declared that its Board of Directors has initiated a stock 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 buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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