Makita (OTCMKTS:MKTAY) Releases Quarterly Earnings Results

Key Points

• Makita reported quarterly earnings of $0.50 per share, exceeding estimates by $0.12, with revenue of $1.26 billion.
• The company's stock saw a recent price increase, trading at $32.29, amid a market capitalization of $8.69 billion.
• Analysts have downgraded Makita's rating, with Wall Street Zen and Citigroup both moving their ratings from "buy" to "hold."

Makita (OTCMKTS:MKTAY - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.12, Zacks reports. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $187.49 billion. Makita had a return on equity of 9.11% and a net margin of 11.07%.

Makita Stock Performance

OTCMKTS:MKTAY traded up $0.08 on Tuesday, hitting $32.82. 4,129 shares of the stock were exchanged, compared to its average volume of 18,027. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 15.93 and a beta of 0.63. Makita has a 52 week low of $25.56 and a 52 week high of $39.05. The company's 50-day moving average price is $30.66 and its 200 day moving average price is $30.95.

Analysts Set New Price Targets

MKTAY has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Makita from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup cut shares of Makita from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th.

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.