Makita (OTCMKTS:MKTAY) Shares Gap Down – Here’s Why

Makita Corp. (OTCMKTS:MKTAY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $34.45, but opened at $32.24. Makita shares last traded at $33.85, with a volume of 3,359 shares traded.

Makita Price Performance

The company has a fifty day moving average of $35.06 and a 200-day moving average of $33.74. The firm has a market cap of $8.90 billion, a P/E ratio of 16.90 and a beta of 0.63.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Makita had a return on equity of 8.14% and a net margin of 10.21%.

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.