Makita (OTCMKTS:MKTAY) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Makita Corp. (OTCMKTS:MKTAY) experienced a modest increase in trading volume, rising from 18,255 to 18,553 shares traded on Tuesday, with the stock price currently at $31.20.
• Recent ratings from analysts show a bearish shift, with Citigroup and Wall Street Zen both downgrading Makita from a "strong-buy" or "buy" rating to a "hold" rating.
• The company reported quarterly earnings of $0.43 per share, significantly exceeding the estimated $0.22, along with a revenue of $1.29 billion against a consensus estimate of $186.50 billion.

Shares of Makita Corp. (OTCMKTS:MKTAY - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 18,553 shares changed hands during mid-day trading, an increase of 2% from the previous session's volume of 18,255 shares.The stock last traded at $31.20 and had previously closed at $31.33.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MKTAY. Wall Street Zen lowered Makita from a "buy" rating to a "hold" rating in a research note on Sunday, July 27th. Citigroup downgraded Makita from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th.

Makita Stock Performance

The firm has a fifty day moving average price of $30.56 and a two-hundred day moving average price of $30.87. The stock has a market capitalization of $8.74 billion, a P/E ratio of 15.78 and a beta of 0.65.

Makita (OTCMKTS:MKTAY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.12. The firm 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%. On average, research analysts anticipate that Makita Corp. will post 1.56 earnings per share 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.