Makita (OTCMKTS:MKTAY) Shares Gap Down – What’s Next?

by · The Markets Daily

Makita Corp. (OTCMKTS:MKTAY – Get Free Report)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $31.93, but opened at $29.21. Makita shares last traded at $29.6650, with a volume of 855 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Makita from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Get Our Latest Stock Analysis on MKTAY

Makita Trading Down 6.4%

The stock has a 50 day moving average of $32.96 and a 200-day moving average of $31.82. The company has a market capitalization of $8.04 billion, a P/E ratio of 14.51 and a beta of 0.59.

Makita (OTCMKTS:MKTAY – Get Free Report) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.27 billion. Makita had a return on equity of 9.00% and a net margin of 11.07%. As a group, sell-side analysts expect that Makita Corp. will post 1.56 EPS for the current fiscal year.

About Makita

(Get Free Report)

Makita Corporation engages in the manufacture and sale of electric power tools, pneumatic tools, and gardening and household equipment in Japan, Europe, North America, Asia, Australia, Brazil, and the United Arab Emirates. It offers cordless, drilling/fastening, impact drilling/demolition, grinding/sanding, sawing, planning/routering, pneumatic, outdoor power, and dust extraction/other equipment, as well as accessories; and cutting equipment for new materials, masonry, and metals.

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