Makita (OTCMKTS:MKTAY) Shares Gap Down – What’s Next?

Makita Corp. (OTCMKTS:MKTAY)’s share price gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Makita from a “buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Makita Price Performance

The firm has a market cap of $8.17 billion, a PE ratio of 15.11 and a beta of 0.52. The business’s fifty day moving average is $30.22 and its 200-day moving average is $31.55.

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