3M Stocks – Analysts Anticipate 3M (NYSE:MMM) Will Post Earnings of $2.29 Per Share
Equities research analysts forecast that 3M (NYSE:MMM) will announce earnings per share (EPS) of $2.29 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for 3M’s earnings. The lowest EPS estimate is $2.20 and the highest is $2.35. 3M posted earnings of $2.16 per share in the same quarter last year, which would suggest a positive year over year growth rate of 6%. The firm is expected to report its next earnings report on Tuesday, April 27th.
According to Zacks, analysts expect that 3M will report full-year earnings of $9.56 per share for the current year, with EPS estimates ranging from $9.50 to $9.65. For the next financial year, analysts forecast that the firm will report earnings of $10.42 per share, with EPS estimates ranging from $10.18 to $10.53. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover 3M.
3M (NYSE:MMM) last released its quarterly earnings results on Monday, January 25th. The conglomerate reported $2.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.23. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.39 billion. 3M had a return on equity of 44.77% and a net margin of 15.65%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.15 EPS.
MMM has been the subject of a number of research analyst reports. TheStreet raised 3M from a “c+” rating to a “b” rating in a report on Tuesday, October 27th. Credit Suisse Group reduced their price target on 3M from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 27th. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Wednesday, February 3rd. Morgan Stanley upped their target price on 3M from $176.00 to $188.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 12th. Finally, JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and set a $205.00 price target on the stock in a report on Wednesday, January 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. 3M has a consensus rating of “Hold” and a consensus target price of $180.23.
In other 3M news, SVP Ivan K. Fong sold 15,073 shares of 3M stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $172.62, for a total transaction of $2,601,901.26. Following the sale, the senior vice president now directly owns 47,886 shares of the company’s stock, valued at approximately $8,266,081.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael G. Vale sold 30,875 shares of 3M stock in a transaction that occurred on Friday, January 29th. The shares were sold at an average price of $175.53, for a total value of $5,419,488.75. Following the sale, the executive vice president now directly owns 79,155 shares in the company, valued at $13,894,077.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,927 shares of company stock worth $10,107,912. 0.42% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP boosted its position in 3M by 6.0% during the 4th quarter. First Trust Advisors LP now owns 1,174,100 shares of the conglomerate’s stock valued at $205,221,000 after acquiring an additional 66,839 shares in the last quarter. Crawford Investment Counsel Inc. boosted its position in shares of 3M by 0.9% in the 4th quarter. Crawford Investment Counsel Inc. now owns 222,310 shares of the conglomerate’s stock worth $38,858,000 after purchasing an additional 2,008 shares in the last quarter. Financial Sense Advisors Inc. boosted its position in shares of 3M by 3.8% in the 4th quarter. Financial Sense Advisors Inc. now owns 29,598 shares of the conglomerate’s stock worth $5,173,000 after purchasing an additional 1,087 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of 3M in the 4th quarter worth approximately $1,441,000. Finally, Kestra Advisory Services LLC boosted its position in shares of 3M by 113.3% in the 4th quarter. Kestra Advisory Services LLC now owns 100,598 shares of the conglomerate’s stock worth $17,515,000 after purchasing an additional 53,425 shares in the last quarter. 64.68% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MMM opened at $180.94 on Wednesday. The stock has a fifty day moving average price of $172.57 and a 200-day moving average price of $167.76. The company has a market cap of $104.37 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.85 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.37 and a current ratio of 1.90. 3M has a fifty-two week low of $114.04 and a fifty-two week high of $187.27.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 12th. Investors of record on Friday, February 12th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, February 11th. This is an increase from 3M’s previous quarterly dividend of $1.47. 3M’s payout ratio is currently 64.62%.
3M Company Profile
3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.
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3M Stocks – Analysts Anticipate 3M (NYSE:MMM) Will Post Earnings of $2.29 Per Share
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