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

Key Points

• Makita shares gapped up before the market opened, opening at $34.20 versus the prior close of $31.95 and last trading around $34.23 on light volume (1,615 shares).
• Analyst sentiment is mixed: Wall Street Zen upgraded to a Buy while Goldman Sachs downgraded to a Sell, leaving a MarketBeat consensus rating of Reduce.
• Makita beat quarterly expectations with $0.46 EPS versus $0.43 expected and $1.25 billion in revenue versus $1.19 billion expected; the company has a market cap of $9.08 billion and a P/E of 18.16.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $31.95, but opened at $34.20. Makita shares last traded at $34.2250, with a volume of 1,615 shares trading hands.

Analyst Ratings Changes

MKTAY has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Makita from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. The Goldman Sachs Group downgraded shares of Makita from a "hold" rating to a "sell" rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

Makita Stock Performance

The company has a market cap of $9.08 billion, a P/E ratio of 18.16 and a beta of 0.53. The stock has a 50-day moving average of $35.45 and a two-hundred day moving average of $32.49.

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

About Makita

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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