Palace Capital (LON:PCA – Get Free Report) issued its quarterly earnings data on Thursday. The company reported GBX (0.30) earnings per share for the quarter, Digital Look Earnings reports. The firm had revenue of GBX 355 million during the quarter. Palace Capital had a net margin of 28.80% and a return on equity of 4.33%.
Palace Capital Stock Down 1.2%
Shares of LON:PCA opened at GBX 167 on Thursday. The company has a market cap of £32.61 million, a PE ratio of 20.12, a P/E/G ratio of 3.37 and a beta of 0.13. The company’s 50-day moving average price is GBX 171.58 and its 200 day moving average price is GBX 193.91. Palace Capital has a fifty-two week low of GBX 160 and a fifty-two week high of GBX 234.
Palace Capital announced that its Board of Directors has authorized a stock buyback plan on Friday, April 17th that permits the company to repurchase 400,000,000,000 outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
About Palace Capital
Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London
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