REX American Resources (NYSE:REX) Issues Quarterly Earnings Results

REX American Resources (NYSE:REX) announced its quarterly earnings data on Wednesday. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.36, RTT News reports. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. The firm had revenue of $158.23 million for the quarter, compared to analysts’ expectations of $163.00 million. During the same period last year, the firm earned $1.16 earnings per share.

REX American Resources Trading Up 2.2 %

REX stock opened at $39.47 on Friday. The firm’s 50-day moving average price is $39.80 and its two-hundred day moving average price is $42.60. The stock has a market capitalization of $693.44 million, a price-to-earnings ratio of 10.33 and a beta of 0.92. REX American Resources has a 12-month low of $35.40 and a 12-month high of $60.79.

Analysts Set New Price Targets

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

REX American Resources announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 26th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the energy company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.