REX American Resources (NYSE:REX - Get Free Report) declared that its Board of Directors 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 allows the energy company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
REX American Resources Price Performance
Shares of REX traded down $1.66 during mid-day trading on Friday, reaching $37.76. The company had a trading volume of 232,437 shares, compared to its average volume of 155,530. The company has a market capitalization of $663.40 million, a P/E ratio of 9.89 and a beta of 0.92. REX American Resources has a twelve month low of $35.40 and a twelve month high of $60.79. The company's 50-day moving average is $39.72 and its 200-day moving average is $42.57.
REX American Resources (NYSE:REX - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The energy company reported $0.63 earnings per share (EPS) 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 firm had revenue of $158.23 million during the quarter, compared to analyst estimates of $163.00 million. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, equities analysts expect 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 set a $50.00 target price (down from $55.00) on shares of REX American Resources in a research report on Thursday.
Check Out Our Latest Stock Analysis on REX
About REX American Resources
(
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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.
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