REX American Resources (NYSE:REX) Posts Earnings Results, Beats Estimates By $0.17 EPS

REX American Resources (NYSE:REX - Get Free Report) posted its quarterly earnings data on Wednesday. The energy company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17, Zacks reports. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. The business had revenue of $158.34 million during the quarter, compared to analyst estimates of $161.00 million.

REX American Resources Stock Up 2.5%

NYSE REX traded up $1.01 during trading hours on Thursday, hitting $41.07. 121,077 shares of the company were exchanged, compared to its average volume of 143,878. The firm has a market cap of $682.42 million, a price-to-earnings ratio of 10.75 and a beta of 0.51. The company has a 50 day moving average of $39.79 and a two-hundred day moving average of $40.80. REX American Resources has a 52-week low of $33.45 and a 52-week high of $52.20.

Wall Street Analyst Weigh In

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 report on Thursday, March 27th.

REX American Resources declared that its board has approved a stock buyback program on Wednesday, March 26th that authorizes the company to buyback 1,500,000 shares. This buyback authorization authorizes the energy company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On REX American Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of REX American Resources by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,161 shares of the energy company's stock worth $344,000 after buying an additional 390 shares during the period. Empowered Funds LLC grew its holdings in REX American Resources by 4.1% during the 1st quarter. Empowered Funds LLC now owns 78,667 shares of the energy company's stock worth $2,956,000 after acquiring an additional 3,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of REX American Resources by 74.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,244 shares of the energy company's stock valued at $3,090,000 after purchasing an additional 35,209 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of REX American Resources by 29.2% in the 1st quarter. AQR Capital Management LLC now owns 96,316 shares of the energy company's stock valued at $3,619,000 after purchasing an additional 21,781 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

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.