Palace Capital (LON:PCA) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Palace Capital Plc (LON:PCA) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 186.28 and traded as low as GBX 175.50. Palace Capital shares last traded at GBX 175.50, with a volume of 2,122 shares trading hands.

Palace Capital Stock Up 2.9%

The firm has a 50-day moving average of GBX 171.68 and a 200 day moving average of GBX 186.05. The stock has a market capitalization of £35.15 million, a P/E ratio of -7.00, a PEG ratio of 3.37 and a beta of 0.14.

Palace Capital (LON:PCA) last announced its quarterly earnings results on Thursday, June 11th. The company reported GBX (0.30) earnings per share (EPS) for the quarter. Palace Capital had a negative net margin of 67.58% and a negative return on equity of 11.17%. The business had revenue of GBX 355 million during the quarter. Analysts predict that Palace Capital Plc will post 14.477562 EPS for the current fiscal year.

Palace Capital announced that its Board of Directors has authorized a stock repurchase plan on Friday, April 17th that allows the company to buyback 400,000,000,000 outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally 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