Makita (OTCMKTS:MKTAY) Shares Gap Down – What’s Next?

Makita Corp. (OTCMKTS:MKTAY) shares gapped down before the market opened on Thursday . The stock had previously closed at $29.99, but opened at $28.66. Makita shares last traded at $30.20, with a volume of 1,208 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Makita from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Makita Trading Up 2.3%

The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 15.49 and a beta of 0.52. The stock’s 50 day moving average is $30.15 and its two-hundred day moving average is $31.55.

Makita (OTCMKTS:MKTAY) last announced its earnings results on Friday, October 31st. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Makita had a net margin of 10.72% and a return on equity of 8.53%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.27 billion. On average, sell-side analysts predict that Makita Corp. will post 1.56 EPS 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.