Makita (OTCMKTS:MKTAY) Shares Gap Down - Here's Why

Key Points

• Makita Corporation's shares gapped down from a previous close of $36.03 to $32.84 before trading on Monday, and last traded at $35.40.
• Wall Street Zen recently upgraded Makita from a "hold" rating to a "buy" rating as of August 2nd, although the stock has decreased by 1.7%.
• In its latest quarterly earnings report, Makita reported earnings per share of $0.50, exceeding analysts' expectations of $0.38, with revenue of $1.26 billion.

Shares of Makita Corp. (OTCMKTS:MKTAY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $36.03, but opened at $32.84. Makita shares last traded at $35.40, with a volume of 1,804 shares.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Makita from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

Makita Stock Down 1.7%

The stock has a market cap of $9.53 billion, a P/E ratio of 17.20 and a beta of 0.63. The business has a 50 day moving average price of $31.34 and a two-hundred day moving average price of $31.21.

Makita (OTCMKTS:MKTAY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.12. The firm had revenue of $1.26 billion during 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%. On average, research analysts forecast that Makita Corp. will post 1.56 earnings per share for the current year.

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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