Palace Capital (LON:PCA) Share Price Passes Above 50-Day Moving Average – Here’s What Happened

Palace Capital Plc (LON:PCA)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 170.29 and traded as high as GBX 177.50. Palace Capital shares last traded at GBX 170, with a volume of 10,458 shares traded.

Palace Capital Price Performance

The firm’s 50 day simple moving average is GBX 170.29 and its two-hundred day simple moving average is GBX 187.33. The firm has a market capitalization of £33.19 million, a P/E ratio of -6.61, a P/E/G ratio of 3.37 and a beta of 0.14.

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 negative net margin of 67.58% and a negative return on equity of 11.17%. The company had revenue of GBX 355 million for the quarter. As a group, equities research analysts forecast that Palace Capital Plc will post 14.477562 EPS for the current year.

Palace Capital announced that its board has authorized 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management 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