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

Palace Capital Plc (LON:PCAGet Free Report)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Palace Capital Price Performance

The firm has a market cap of £34.27 million, a PE ratio of -6.83, a PEG ratio of 3.37 and a beta of 0.14. The stock’s fifty day simple moving average is GBX 171.55 and its two-hundred day simple moving average is GBX 186.28.

Palace Capital (LON:PCAGet Free Report) last announced its earnings results on Thursday, June 11th. The company reported GBX (0.30) earnings per share 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 for the quarter. On average, equities research analysts anticipate that Palace Capital Plc will post 14.477562 earnings per share for the current fiscal year.

Palace Capital announced that its board has authorized a stock repurchase program on Friday, April 17th that authorizes the company to repurchase 400,000,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

About Palace Capital

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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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