Makita (OTCMKTS:MKTAY) Shares Gap Down – What’s Next?
by Jessica Moore · The Cerbat GemMakita Corp. (OTCMKTS:MKTAY – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $32.80, but opened at $31.26. Makita shares last traded at $31.34, with a volume of 1,652 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on MKTAY shares. Wall Street Zen cut shares of Makita from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. The Goldman Sachs Group lowered Makita from a “neutral” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.
View Our Latest Report on MKTAY
Makita Stock Performance
The firm’s 50 day moving average is $29.80 and its 200-day moving average is $31.70. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 15.52 and a beta of 0.52.
Makita (OTCMKTS:MKTAY – Get Free Report) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Makita had a net margin of 10.72% and a return on equity of 8.53%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.27 billion. As a group, research analysts predict that Makita Corp. will post 1.56 EPS for the current year.
About Makita
Makita Corporation (OTCMKTS:MKTAY) is a global manufacturer of professional and consumer power tools headquartered in Anjō, Aichi Prefecture, Japan. Founded in 1915 as an electric motor sales and repair company, it incorporated as Makita Electric Works, Ltd. in 1958 and has since expanded its product portfolio to serve both industrial and residential markets. The company’s core business activities encompass the design, production and distribution of power tools, outdoor power equipment and accessories.
Makita’s product lineup includes cordless and corded electric drills, drivers, saws, grinders, sanders and rotary hammers, as well as pneumatic and gasoline-powered machinery.