Makita (OTCMKTS:MKTAY) Posts Earnings Results, Beats Expectations By $0.09 EPS

Makita (OTCMKTS:MKTAY) posted its quarterly earnings results on Tuesday. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09, Zacks reports. Makita had a return on equity of 7.85% and a net margin of 9.96%.

Makita Trading Up 1.2%

OTCMKTS MKTAY opened at $33.62 on Tuesday. The company has a fifty day simple moving average of $35.07 and a 200 day simple moving average of $32.69. The company has a market cap of $8.89 billion, a P/E ratio of 17.79 and a beta of 0.60. Makita has a 1 year low of $26.76 and a 1 year high of $41.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Makita from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. The Goldman Sachs Group downgraded Makita from a “hold” rating to a “sell” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.