Makita (OTCMKTS:MKTAY) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Makita Corp. (OTCMKTS:MKTAY)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.80 and traded as low as $29.0150. Makita shares last traded at $29.09, with a volume of 20,796 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Makita from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Makita Trading Down 0.8%

The firm has a market cap of $7.83 billion, a PE ratio of 14.12 and a beta of 0.58. The business’s 50-day simple moving average is $32.33 and its 200 day simple moving average is $31.80.

Makita (OTCMKTS:MKTAY) last released its quarterly earnings data on Friday, October 31st. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.27 billion. Makita had a net margin of 11.07% and a return on equity of 9.00%. Analysts expect that Makita Corp. will post 1.56 earnings per share for the current year.

Makita Company Profile

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.