Equities analysts expect 3M Co (NYSE:MMM) to announce earnings of $2.60 per share for the current quarter, Zacks reports. Three analysts have provided estimates for 3M’s earnings. The highest EPS estimate is $2.68 and the lowest is $2.47. 3M posted earnings per share of $2.58 during the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The company is expected to issue its next quarterly earnings report on Tuesday, October 22nd.
On average, analysts expect that 3M will report full-year earnings of $9.29 per share for the current financial year, with EPS estimates ranging from $9.00 to $9.50. For the next year, analysts forecast that the business will report earnings of $10.19 per share, with EPS estimates ranging from $9.85 to $10.50. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for 3M.
3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.16. 3M had a net margin of 17.43% and a return on equity of 57.42%. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter last year, the firm posted $2.59 EPS. 3M’s revenue was down 2.6% compared to the same quarter last year.
Several analysts recently issued reports on MMM shares. UBS Group reissued a “buy” rating on shares of Linde in a research report on Friday, July 12th. Bank of America set a $420.00 price target on Boeing and gave the company a “hold” rating in a report on Thursday, June 27th. Morgan Stanley set a $28.00 price objective on BJs Wholesale Club and gave the company a “hold” rating in a research report on Friday, May 24th. Credit Suisse Group set a €59.00 ($68.60) price objective on Renault and gave the company a “neutral” rating in a research report on Friday. Finally, Zacks Investment Research raised Green Brick Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $182.08.
In other news, Director David B. Dillon bought 1,200 shares of the company’s stock in a transaction on Friday, May 17th. The shares were acquired at an average cost of $169.50 per share, with a total value of $203,400.00. Following the completion of the transaction, the director now owns 1,200 shares of the company’s stock, valued at approximately $203,400. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory R. Page bought 1,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $179.60 per share, for a total transaction of $179,600.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $538,800. The disclosure for this purchase can be found here. Insiders acquired 3,200 shares of company stock worth $559,260 over the last three months. Insiders own 0.83% of the company’s stock.
Large investors have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV boosted its position in 3M by 202.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 151 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 101 shares in the last quarter. Cordasco Financial Network raised its stake in 3M by 220.0% in the 1st quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 110 shares during the period. Capital Financial Planning LLC bought a new stake in 3M in the 4th quarter valued at about $34,000. Meridian Wealth Management LLC bought a new stake in 3M in the 1st quarter valued at about $38,000. Finally, Lake Point Wealth Management bought a new stake in 3M in the 4th quarter valued at about $37,000. 66.62% of the stock is currently owned by institutional investors and hedge funds.
NYSE MMM traded down $4.15 during mid-day trading on Friday, hitting $173.98. The company’s stock had a trading volume of 4,000,958 shares, compared to its average volume of 2,784,196. The firm’s 50 day moving average price is $171.73. 3M has a twelve month low of $159.32 and a twelve month high of $219.75. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $103.42 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.90 and a beta of 1.09.
3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.
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