Makita (OTCMKTS:MKTAY) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS
by Teresa Graham · The Cerbat GemMakita (OTCMKTS:MKTAY – Get Free Report) announced its earnings results on Tuesday. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09, Zacks reports. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Makita had a return on equity of 7.85% and a net margin of 9.96%.
Makita Stock Up 6.3%
Shares of MKTAY opened at $37.43 on Thursday. Makita has a 12-month low of $26.76 and a 12-month high of $41.20. The firm has a market capitalization of $9.90 billion, a PE ratio of 19.80 and a beta of 0.60. The stock’s fifty day simple moving average is $34.91 and its 200-day simple moving average is $32.74.
Analysts Set New Price Targets
MKTAY has been the topic of several research analyst reports. The Goldman Sachs Group cut Makita from a “hold” rating to a “sell” rating in a report on Wednesday, January 14th. Wall Street Zen upgraded Makita from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Makita has an average rating of “Sell”.
Check Out Our Latest Analysis on MKTAY
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.