3M (NYSE:MMM) – Research analysts at Jefferies Financial Group issued their Q1 2021 earnings estimates for shares of 3M in a research report issued on Wednesday, January 27th. Jefferies Financial Group analyst L. Alexander anticipates that the conglomerate will earn $2.26 per share for the quarter. Jefferies Financial Group also issued estimates for 3M’s Q3 2021 earnings at $2.73 EPS. 3M (NYSE:MMM) last announced its quarterly earnings data on Monday, January 25th. The conglomerate reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.23. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.39 billion. 3M had a return on equity of 44.77% and a net margin of 15.65%. 3M’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.15 earnings per share.
MMM has been the topic of several other reports. Citigroup boosted their target price on 3M from $185.00 to $188.00 in a research note on Wednesday. Royal Bank of Canada restated a “hold” rating on shares of 3M in a research note on Sunday. William Blair restated a “market perform” rating on shares of 3M in a research note on Tuesday, October 27th. Credit Suisse Group lowered their target price on 3M from $208.00 to $197.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Bank of America lowered 3M from a “neutral” rating to an “underperform” rating and set a $170.00 target price on the stock. in a research note on Thursday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. 3M presently has a consensus rating of “Hold” and a consensus target price of $176.75.
Shares of MMM opened at $186.65 on Thursday. The firm has a market cap of $107.66 billion, a PE ratio of 21.88, a PEG ratio of 1.85 and a beta of 0.92. The stock’s fifty day moving average price is $171.74 and its two-hundred day moving average price is $166.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.90 and a quick ratio of 1.37. 3M has a 1 year low of $114.04 and a 1 year high of $187.27.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in 3M by 3.6% during the third quarter. BlackRock Inc. now owns 38,855,440 shares of the conglomerate’s stock worth $6,223,864,000 after buying an additional 1,336,336 shares in the last quarter. Newport Trust Co purchased a new position in 3M during the third quarter worth about $1,757,156,000. Massachusetts Financial Services Co. MA grew its position in 3M by 1.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,799,795 shares of the conglomerate’s stock worth $1,249,371,000 after buying an additional 108,504 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 3M by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,090,861 shares of the conglomerate’s stock worth $1,135,814,000 after buying an additional 90,145 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of 3M by 5.9% in the 3rd quarter. Fisher Asset Management LLC now owns 4,688,554 shares of the conglomerate’s stock worth $751,013,000 after purchasing an additional 259,324 shares in the last quarter. Institutional investors and hedge funds own 64.68% of the company’s stock.
In related news, EVP Jeffrey R. Lavers sold 6,219 shares of the business’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $172.09, for a total transaction of $1,070,227.71. Following the completion of the transaction, the executive vice president now directly owns 10,643 shares in the company, valued at $1,831,553.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Khandpur K. Ashish sold 5,760 shares of the business’s stock in a transaction dated Thursday, December 17th. The stock was sold at an average price of $176.44, for a total value of $1,016,294.40. Following the transaction, the executive vice president now owns 21,719 shares of the company’s stock, valued at $3,832,100.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,052 shares of company stock valued at $4,688,423. 0.42% of the stock is owned by company insiders.
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.
Further Reading: Market Capitalization in the Stock Market
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]