Equities research analysts expect that 3M Co (NYSE:MMM) will report earnings of $2.53 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for 3M’s earnings, with the lowest EPS estimate coming in at $2.42 and the highest estimate coming in at $2.57. 3M reported earnings of $2.16 per share during the same quarter last year, which would indicate a positive year over year growth rate of 17.1%. The business is expected to report its next quarterly earnings results on Tuesday, April 24th.
On average, analysts expect that 3M will report full year earnings of $10.59 per share for the current fiscal year, with EPS estimates ranging from $10.35 to $10.70. For the next year, analysts anticipate that the business will report earnings of $11.70 per share, with EPS estimates ranging from $11.40 to $12.50. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover 3M.
3M (NYSE:MMM) last posted its earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The firm had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. During the same period in the previous year, the firm posted $1.88 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis.
MMM has been the topic of a number of research reports. Argus restated a “buy” rating on shares of 3M in a report on Friday, December 22nd. Citigroup boosted their target price on shares of 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Royal Bank of Canada restated a “hold” rating and issued a $254.00 target price on shares of 3M in a report on Thursday, January 25th. ValuEngine downgraded shares of 3M from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Goldman Sachs Group upgraded shares of 3M from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $194.00 to $229.00 in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. 3M has a consensus rating of “Hold” and a consensus price target of $254.25.
3M (NYSE MMM) traded down $1.10 during trading on Friday, hitting $235.57. 1,083,729 shares of the stock were exchanged, compared to its average volume of 2,707,057. 3M has a 12-month low of $182.04 and a 12-month high of $259.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86. The company has a market cap of $140,120.00, a P/E ratio of 25.63, a PEG ratio of 2.20 and a beta of 1.08.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be paid a dividend of $1.36 per share. The ex-dividend date is Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.31%. 3M’s payout ratio is currently 59.32%.
In related news, EVP Michael F. Roman sold 4,146 shares of 3M stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the completion of the transaction, the executive vice president now directly owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Ippocratis Vrohidis sold 225 shares of 3M stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $249.68, for a total transaction of $56,178.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,673 shares of company stock valued at $12,420,577. 0.58% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Lenox Wealth Advisors Inc. boosted its position in 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after buying an additional 489 shares during the period. Horan Capital Management purchased a new stake in 3M in the 4th quarter valued at about $123,000. Hoertkorn Richard Charles purchased a new stake in 3M in the 3rd quarter valued at about $126,000. Virtue Capital Management LLC purchased a new stake in 3M in the 4th quarter valued at about $127,000. Finally, Sawyer & Company Inc purchased a new stake in 3M in the 4th quarter valued at about $138,000. 66.17% of the stock is owned by hedge funds and other institutional investors.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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