Palace Capital (LON:PCA) Hits New 52-Week Low – Time to Sell?

Palace Capital Plc (LON:PCA) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 160 and last traded at GBX 170.50, with a volume of 103202 shares. The stock had previously closed at GBX 166.50.

Palace Capital Stock Up 2.4%

The company has a market cap of £33.29 million, a PE ratio of 20.54, a P/E/G ratio of 3.37 and a beta of 0.13. The business’s fifty day moving average is GBX 170.30 and its 200-day moving average is GBX 192.80.

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

Palace Capital announced that its board has approved a share repurchase program on Friday, April 17th that permits the company to buyback 400,000,000,000 outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management 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