Yes, REX is clearly the most profitable of these ethanol cos. but just look how the stockprice is being treated today with oilprice falling 5%-- REX is back down under $60. That just seems "criminally unfair" after the company posted such an astounding year of growth, erased all debt, grew their cash-stash, and can likely still do at least 1.50-1.75 EPS per quarter even at the present lousy crush-spreads because they have the best profit margins in the business.
Oh well.....
As i've mentioned, i've been on the sidelines b/c i knew that all energy-sector names are being disrespected in the present market climate, but for anyone who has been holding shares throughout the debacle i wish you all inner strength! I do believe the tide will eventually turn and oilprices & ethanol prices will eventually rise back up, even if it's to a somewhat lower "new normal." REX could thrive under such conditions, posting at least 2.00 EPS quarterly and would deserve a P/E of at least 12, which should make for a s/price in the upper $90s, not to mention whatever growth they can achieve via continuing share repurchases (making earnings count for more EPS), increasing their ownership in their present plants, finding any new plants to acquire, etc.
I was really glad to hear that they're growing earnings simply through greater plant efficiencies. That's impressive!
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