Makita (OTCMKTS:MKTAY) Stock Price Up 4.9% - Here's Why

Key Points

• Makita's stock price rose by 4.9% to $32.50 during mid-day trading, despite a significant decline in trading volume, falling 91% from its average daily volume.
• Analysts have recently downgraded Makita's rating, with Citigroup moving from a "strong-buy" to a "hold" rating, and Wall Street Zen similarly lowering its rating.
• In its latest earnings report, Makita reported earnings per share of $0.50, surpassing analyst expectations of $0.38, with a revenue of $1.26 billion for the quarter.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report)'s stock price rose 4.9% during mid-day trading on Friday . The company traded as high as $32.50 and last traded at $32.50. Approximately 1,720 shares traded hands during trading, a decline of 91% from the average daily volume of 18,184 shares. The stock had previously closed at $30.99.

Wall Street Analysts Forecast Growth

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

Makita Trading Up 4.3%

The company has a fifty day moving average price of $30.56 and a 200-day moving average price of $30.87. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 15.69 and a beta of 0.65.

Makita (OTCMKTS:MKTAY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.12. Makita had a return on equity of 9.11% and a net margin of 11.07%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $187.49 billion. As a group, sell-side analysts predict that Makita Corp. will post 1.56 EPS 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.

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