Makita (OTCMKTS:MKTAY) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

Shares of Makita Corp. (OTCMKTS:MKTAY) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $33.50 and traded as high as $34.29. Makita shares last traded at $33.62, with a volume of 18,850 shares traded.

Makita Trading Up 1.0%

The firm’s 50 day simple moving average is $33.50 and its two-hundred day simple moving average is $34.60. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 16.40 and a beta of 0.59.

Makita (OTCMKTS:MKTAY) last announced its earnings results on Friday, October 30th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. Makita had a net margin of 10.40% and a return on equity of 8.23%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion.

Makita Company Profile

Makita Corporation is a Japanese manufacturer of professional power tools and related equipment. The company’s product portfolio includes cordless and corded tools such as drills, impact drivers, saws, grinders, sanders, planers, and rotary hammers, as well as pneumatic tools, outdoor power equipment, batteries, chargers, accessories, and related products.

Makita serves professional users and consumers in the construction, woodworking, manufacturing, maintenance, landscaping, and home-improvement markets.