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) posted its quarterly earnings results on Wednesday. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.12, Zacks reports. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $187.49 billion. Makita had a return on equity of 9.11% and a net margin of 11.07%.

Makita Stock Performance

Shares of MKTAY traded up $1.30 during trading hours on Friday, reaching $32.29. 2,169 shares of the company traded hands, compared to its average volume of 18,185. The stock's fifty day moving average is $30.56 and its 200 day moving average is $30.87. The stock has a market cap of $8.69 billion, a P/E ratio of 15.67 and a beta of 0.65. Makita has a 1-year low of $25.56 and a 1-year high of $39.05.

Analyst Upgrades and Downgrades

MKTAY has been the topic of several research analyst reports. Wall Street Zen cut shares of Makita from a "buy" rating to a "hold" rating in a research report on Sunday, July 27th. Citigroup cut shares of Makita from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th.

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.

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