REX American Resources (NYSE:REX) to Repurchase 1,500,000 Shares

REX American Resources (NYSE:REX) declared that its board has approved a stock buyback plan on Wednesday, March 26th, RTT News reports. The company plans to buyback 1,500,000 outstanding shares. This buyback authorization allows the energy company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

REX American Resources Stock Performance

NYSE:REX opened at $39.47 on Friday. REX American Resources has a fifty-two week low of $35.40 and a fifty-two week high of $60.79. The business has a 50 day moving average price of $39.80 and a 200-day moving average price of $42.60. The firm has a market cap of $693.44 million, a PE ratio of 10.33 and a beta of 0.92.

REX American Resources (NYSE:REX) last issued its quarterly earnings data on Wednesday, March 26th. The energy company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.27 by $0.36. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. The firm had revenue of $158.23 million during the quarter, compared to the consensus estimate of $163.00 million. During the same period in the prior year, the firm posted $1.16 earnings per share. Research analysts predict 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.