Makita (OTCMKTS:MKTAY) Downgraded by Wall Street Zen to Hold

Key Points

• Makita has been downgraded by both Wall Street Zen and Citigroup from higher ratings to a "hold" rating, indicating a shift in investor sentiment.
• As of the latest reports, Makita's stock was trading at $32.46, with a market capitalization of $8.73 billion and a P/E ratio of 17.84.
• In its recent earnings report, Makita beat analysts' expectations with $0.43 earnings per share for the quarter, significantly above the expected $0.22.

Makita (OTCMKTS:MKTAY - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Separately, Citigroup downgraded Makita from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th.

Makita Price Performance

Makita stock traded up $0.16 during mid-day trading on Friday, reaching $32.46. The company had a trading volume of 5,315 shares, compared to its average volume of 7,392. The stock's 50-day simple moving average is $30.52 and its 200-day simple moving average is $30.80. Makita has a 1 year low of $25.56 and a 1 year high of $39.05. The company has a market capitalization of $8.73 billion, a P/E ratio of 17.84 and a beta of 0.65.

Makita (OTCMKTS:MKTAY - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.21. Makita had a net margin of 10.05% and a return on equity of 8.16%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $186.50 billion. On average, equities analysts forecast that Makita will post 1.56 EPS for the current fiscal year.

About Makita

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.

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