REX American Resources (NYSE:REX) Authorizes Stock Repurchase Plan

REX American Resources (NYSE:REX) announced that its board has initiated a share repurchase plan on Wednesday, March 26th, RTT News reports. The company plans to repurchase 1,500,000 shares. This repurchase authorization authorizes the energy company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

REX American Resources Trading Down 4.2 %

Shares of REX opened at $37.76 on Friday. REX American Resources has a 12-month low of $35.40 and a 12-month high of $60.79. The firm has a market capitalization of $663.40 million, a P/E ratio of 9.89 and a beta of 0.92. The firm has a 50-day moving average price of $39.72 and a 200 day moving average price of $42.57.

REX American Resources (NYSE:REX) last posted its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.36. The business had revenue of $158.23 million during the quarter, compared to analysts’ expectations of $163.00 million. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. During the same quarter in the prior year, the company posted $1.16 EPS. Equities research analysts predict that REX American Resources will post 2.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Truist Financial reiterated a “buy” rating and set a $50.00 price objective (down previously from $55.00) on shares of REX American Resources in a research report on Thursday.

REX American Resources Company Profile

REX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States. The company also offers corn, distillers grains, ethanol, distillers corn oil, gasoline, and natural gas. In addition, it provides dry distillers grains with solubles, which is used as a protein in animal feed.