REX American Resources (NYSE:REX) Issues Earnings Results, Beats Expectations By $0.36 EPS

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

REX American Resources Stock Performance

Shares of NYSE REX opened at $38.58 on Thursday. REX American Resources has a fifty-two week low of $35.40 and a fifty-two week high of $60.79. The company has a market cap of $677.81 million, a PE ratio of 10.10 and a beta of 0.92. The business has a 50-day simple moving average of $39.85 and a two-hundred day simple moving average of $42.62.

REX American Resources announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 26th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the energy company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.