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

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

REX American Resources Stock Performance

NYSE REX opened at $37.76 on Friday. The firm has a market cap of $663.40 million, a price-to-earnings ratio of 9.89 and a beta of 0.92. The firm has a 50 day simple moving average of $39.72 and a 200-day simple moving average of $42.57. REX American Resources has a one year low of $35.40 and a one year high of $60.79.

REX American Resources (NYSE:REX) last issued its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, topping 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 company had revenue of $158.23 million for the quarter, compared to the consensus estimate of $163.00 million. During the same quarter in the prior year, the business earned $1.16 EPS. Equities analysts predict that REX American Resources will post 2.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About REX American Resources

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.