Makita (OTCMKTS:MKTAY) Posts Earnings Results, Beats Estimates By $0.03 EPS

Makita (OTCMKTS:MKTAY) released its quarterly earnings data on Thursday. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03, Zacks reports. Makita had a return on equity of 8.53% and a net margin of 10.72%.The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.19 billion.

Makita Trading Up 8.0%

MKTAY traded up $2.60 during midday trading on Friday, hitting $35.25. 1,911 shares of the company were exchanged, compared to its average volume of 16,911. The company’s 50 day simple moving average is $30.43 and its 200 day simple moving average is $31.70. The firm has a market capitalization of $9.32 billion, a price-to-earnings ratio of 17.54 and a beta of 0.52. Makita has a 1-year low of $25.56 and a 1-year high of $39.05.

Analyst Ratings Changes

A number of equities analysts recently commented on MKTAY shares. Wall Street Zen downgraded shares of Makita from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. The Goldman Sachs Group lowered shares of 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 company. According to data from MarketBeat.com, Makita currently has a consensus rating of “Reduce”.

About Makita

Makita Corporation (OTCMKTS:MKTAY) is a global manufacturer of professional and consumer power tools headquartered in Anj?, 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.