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 buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
REX American Resources Stock Up 5.4 %
REX American Resources stock opened at $38.58 on Thursday. The firm has a 50 day moving average price of $39.85 and a 200-day moving average price of $42.62. REX American Resources has a twelve month low of $35.40 and a twelve month high of $60.79. The company has a market capitalization of $677.81 million, a P/E ratio of 10.10 and a beta of 0.92.
REX American Resources (NYSE:REX – Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.36. The business had revenue of $158.23 million during 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 period in the prior year, the company earned $1.16 earnings per share. Equities analysts expect that REX American Resources will post 2.93 EPS for the current fiscal year.
Analysts Set New Price Targets
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.
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