Makita (OTCMKTS:MKTAY) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Makita (OTCMKTS:MKTAY) reported quarterly earnings of $0.50 EPS, exceeding estimates of $0.48 by $0.02. Revenue for the quarter was $1.24 billion, slightly below the expected $1.27 billion. The company achieved a return on equity of 9.00% and a net margin of 11.07%. The stock traded at $32.24, with a market cap of $8.67 billion and a P/E ratio of 15.65. Analysts have upgraded the stock to a "buy" rating, with an average rating of "buy" from investment analysts.
Makita (OTCMKTS:MKTAY - Get Free Report) announced its quarterly earnings data on Friday. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02, Zacks reports. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.27 billion. Makita had a return on equity of 9.00% and a net margin of 11.07%.
Makita Price Performance
OTCMKTS:MKTAY traded up $1.70 during mid-day trading on Friday, reaching $32.24. The company's stock had a trading volume of 11,339 shares, compared to its average volume of 16,710. The company's fifty day simple moving average is $33.03 and its two-hundred day simple moving average is $31.77. Makita has a twelve month low of $25.56 and a twelve month high of $39.05. The stock has a market cap of $8.67 billion, a P/E ratio of 15.65 and a beta of 0.59.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded Makita from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy".
Read Our Latest Stock Analysis on Makita
Makita Company Profile
(Get Free Report)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.
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