Makita (OTCMKTS:MKTAY) Issues Earnings Results, Beats Expectations By $0.03 EPS

Makita (OTCMKTS:MKTAY) issued its quarterly earnings data on Thursday. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03, Zacks reports. Makita had a net margin of 9.96% and a return on equity of 7.93%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.19 billion.

Makita Stock Performance

MKTAY stock opened at $35.01 on Friday. The business’s 50-day moving average is $30.55 and its two-hundred day moving average is $31.72. Makita has a fifty-two week low of $25.56 and a fifty-two week high of $39.05. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 18.52 and a beta of 0.52.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Makita from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group cut Makita from a “hold” rating to a “sell” rating in a research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

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.