REX American Resources: Net Income May Drop And The Stock Price May Follow [Seeking Alpha]
REX American Resources Corporation (REX)
US:NYSE Investor Relations:
rexstores.com/corp/page4.aspx
Company Research
Source: Seeking Alpha
The price of ethanol has been eroding, indicating that REX's profitability and valuation will likely decline in 2024. I expect EPS to be around $2.00 for REX's fiscal 2025. A 15 multiple implies a $30 valuation for this component of the business. Net cash and speculative future cash flows from the One Earth Carbon Capture project bring my target on the stock to $50. Back in December, I wrote an article on REX American Resources Corporation ( NYSE: REX ), suggesting to sell it after its run in Q3 and that Q4 won't be as good. While the stock did pull back a bit after Q3 and Q4 wasn't quite as good as Q3, it was clearly stronger than I and the market expected. The stock has since shot up from less than $45 to around $60 since results were published. REX's EPS came in at $1.16 , $0.45 above the consensus of $0.71 and nearly double my estimate of $0.60. However, with a continued erosion in the price of ethanol, I am willing to double down on my position that REX is a sell at this p
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REX
News
- Are Robust Financials Driving The Recent Rally In REX American Resources Corporation's (NYSE:REX) Stock? [Yahoo! Finance]Yahoo! Finance
- REX American Resources Co. (NYSE: REX) had its "buy" rating re-affirmed by analysts at Truist Financial Co.. They now have a $70.00 price target on the stock, up previously from $58.00.MarketBeat
- REX American Resources Corporation (NYSE:REX) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- REX American Resources Co. (NYSE: REX) had its "buy" rating re-affirmed by analysts at Truist Financial Co.. They now have a $58.00 price target on the stock.MarketBeat
- REX American Resources Reports Full Fiscal Year 2023 Net Income Per Share Attributable to REX Common Shareholders of $3.47, the Second Highest in Company History [Yahoo! Finance]Yahoo! Finance
REX
Earnings
- 3/28/24 - Beat
REX
Sec Filings
- 4/10/24 - Form 4
- 4/9/24 - Form 4
- 4/8/24 - Form 4
- REX's page on the SEC website