Makita (OTCMKTS:MKTAY) Shares Gap Up Following Strong Earnings

Shares of Makita Corp. (OTCMKTS:MKTAY) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $33.62, but opened at $35.50. Makita shares last traded at $35.70, with a volume of 766 shares changing hands.

The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. Makita had a net margin of 9.96% and a return on equity of 7.85%.

Analyst Ratings Changes

Several brokerages have weighed in on MKTAY. 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 lowered shares of Makita from a “hold” rating to a “sell” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Makita Stock Performance

The company’s fifty day moving average price is $35.07 and its 200 day moving average price is $32.69. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 18.89 and a beta of 0.60.

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.