REX American Resources (NYSE:REX) Board of Directors Authorizes Share Buyback Program

REX American Resources (NYSE:REX) declared that its board has authorized a share repurchase program on Wednesday, March 26th, RTT News reports. The company plans to buyback 1,500,000 shares. This buyback authorization allows the energy company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Truist Financial decreased their target price on REX American Resources from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, December 9th.

REX American Resources Trading Up 5.4 %

NYSE:REX traded up $1.97 during midday trading on Wednesday, reaching $38.58. The company had a trading volume of 198,566 shares, compared to its average volume of 151,886. 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 $677.81 million, a price-to-earnings ratio of 10.10 and a beta of 0.92. The stock’s fifty day simple moving average is $39.85 and its 200-day simple moving average is $42.62.

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

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.