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

Makita Corp. (OTCMKTS:MKTAY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $31.95, but opened at $34.20. Makita shares last traded at $34.2250, with a volume of 1,615 shares trading hands.

Wall Street Analysts Forecast Growth

MKTAY has been the topic of a number of research reports. Wall Street Zen raised shares of Makita from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. The Goldman Sachs Group cut shares of Makita from a “hold” rating to a “sell” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Makita Price Performance

The business has a 50-day simple moving average of $35.57 and a 200 day simple moving average of $32.51. The firm has a market cap of $8.92 billion, a PE ratio of 17.84 and a beta of 0.60.

Makita (OTCMKTS:MKTAY) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Makita had a return on equity of 7.85% and a net margin of 9.96%.The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.19 billion. On average, equities analysts forecast that Makita Corp. will post 1.56 earnings per share for the current fiscal year.

Makita Company Profile

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.