Makita (OTCMKTS:MKTAY) Shares Gap Down – Here’s Why

Makita Corp. (OTCMKTS:MKTAY) gapped down prior to trading on Thursday . The stock had previously closed at $29.99, but opened at $28.66. Makita shares last traded at $30.20, with a volume of 1,208 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Makita from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy”.

Makita Trading Up 1.3%

The firm has a 50 day moving average price of $30.22 and a 200-day moving average price of $31.55. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 15.11 and a beta of 0.52.

Makita (OTCMKTS:MKTAY) last posted its earnings results on Friday, October 31st. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.27 billion. Makita had a net margin of 10.72% and a return on equity of 8.53%. As a group, equities analysts expect that Makita Corp. will post 1.56 earnings per share for the current fiscal year.

About Makita

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.