Palace Capital (PCA) Announces Earnings Results

Palace Capital (LON:PCA) announced its quarterly earnings data on Tuesday. The company reported GBX 17.30 ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of GBX 15.90 ($0.21) by GBX 1.40 ($0.02), Digital Look Earnings reports.

Palace Capital stock traded down GBX 2 ($0.03) during trading hours on Thursday, reaching GBX 274 ($3.58). 11,715 shares of the stock were exchanged, compared to its average volume of 27,761. The company has a market capitalization of $125.72 million and a price-to-earnings ratio of 8.06. The company has a quick ratio of 1.15, a current ratio of 2.83 and a debt-to-equity ratio of 53.34. Palace Capital has a twelve month low of GBX 273 ($3.57) and a twelve month high of GBX 366 ($4.78).

The company also recently disclosed a dividend, which will be paid on Saturday, July 13th. Shareholders of record on Thursday, June 13th will be paid a dividend of GBX 4.75 ($0.06) per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a yield of 1.7%. Palace Capital’s payout ratio is 0.56%.

In other Palace Capital news, insider Anthony C. Dove sold 6,800 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of GBX 269 ($3.51), for a total transaction of £18,292 ($23,901.74).

Separately, Numis Securities began coverage on shares of Palace Capital in a research note on Wednesday. They set a “buy” rating and a GBX 350 ($4.57) price objective on the stock.

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Palace Capital Company Profile

Palace Capital plc is a real estate investment firm specializing in investment in entities operating in the property sector. It seeks to invest in United Kingdom. Palace Capital plc is based in London, the United Kingdom.

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