Makita (OTCMKTS:MKTAY) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Unusually-strong trading volume: Makita traded about 24,273 shares on Thursday (a 25% increase from the prior session), with the stock last at $33.32 versus a $32.77 close.
• Mixed analyst views but overall negative tilt: Goldman Sachs cut Makita to a "sell" while Wall Street Zen upgraded it to a "buy," leaving one Hold and one Sell and an average MarketBeat rating of "Reduce."
• Quarterly beat and key fundamentals: Makita reported EPS of $0.46 vs. $0.43 expected and revenue of $1.25B vs. $1.19B expected; market cap ~$8.93B, P/E 17.87, 50‑day SMA $35.51 and 200‑day SMA $32.50.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 24,273 shares were traded during mid-day trading, an increase of 25% from the previous session's volume of 19,392 shares.The stock last traded at $33.32 and had previously closed at $32.77.

Wall Street Analysts Forecast Growth

MKTAY has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Makita from a "hold" rating to a "sell" rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of Makita from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce".

Makita Price Performance

The company's 50 day simple moving average is $35.51 and its 200 day simple moving average is $32.50. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 17.87 and a beta of 0.60.

Makita (OTCMKTS:MKTAY - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Makita had a return on equity of 7.85% and a net margin of 9.96%.The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.19 billion. As a group, analysts forecast that Makita Corp. will post 1.56 earnings per share for the current year.

Makita Company Profile

Makita Corporation OTCMKTS: MKTAY is a global manufacturer of professional and consumer power tools headquartered in Anjō, Aichi Prefecture, Japan. Founded in 1915 as an electric motor sales and repair company, it incorporated as Makita Electric Works, Ltd. in 1958 and has since expanded its product portfolio to serve both industrial and residential markets. The company's core business activities encompass the design, production and distribution of power tools, outdoor power equipment and accessories.

Makita's product lineup includes cordless and corded electric drills, drivers, saws, grinders, sanders and rotary hammers, as well as pneumatic and gasoline-powered machinery.

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