News articles about 3M (NYSE:MMM) have been trending somewhat negative on Friday, InfoTrie Sentiment reports. InfoTrie rates the sentiment of media coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of companies on a scale of -5 to 5, with scores closest to five being the most favorable. 3M earned a coverage optimism score of -1.88 on their scale. InfoTrie also assigned headlines about the conglomerate an news buzz score of 10 out of 10, meaning that recent media coverage is extremely likely to have an effect on the company’s share price in the near future.
Here are some of the media headlines that may have impacted 3M’s score:
- Asian shares stall, sterling falters amid Brexit, growth anxiety (feeds.reuters.com)
- Dow Jones Industrial Average Fell 28 Points as 3M Stock Took a Tumble – Barron’s (barrons.com)
- Why Shares of 3M Are Falling Today – Motley Fool (fool.com)
- Dow ends flat as 3M weighs; tech-sector rally boosts Nasdaq (feeds.marketwatch.com)
- Market Snapshot: S&P 500, Nasdaq close higher, but 3M drags Dow lower on busiest earnings day of quarter (marketwatch.com)
MMM has been the topic of a number of research reports. Citigroup cut their price objective on 3M from $197.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Royal Bank of Canada set a $179.00 price objective on 3M and gave the stock a “hold” rating in a report on Friday, July 26th. Morgan Stanley cut their price objective on 3M from $177.00 to $173.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. JPMorgan Chase & Co. raised their price objective on 3M from $140.00 to $143.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Finally, Bank of America cut their price objective on 3M from $193.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $175.75.
3M stock opened at $161.89 on Friday. The stock’s 50-day moving average is $162.89 and its 200-day moving average is $172.62. The company has a market cap of $96.38 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34. 3M has a 12 month low of $150.58 and a 12 month high of $219.75.
3M (NYSE:MMM) last announced its earnings results on Thursday, July 25th. The conglomerate reported $2.20 EPS for the quarter, beating the consensus estimate of $2.04 by $0.16. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.10 billion. 3M had a return on equity of 55.05% and a net margin of 15.27%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the business posted $2.59 EPS. Research analysts anticipate that 3M will post 9.18 EPS for the current year.
In related news, insider John Patrick Banovetz sold 1,040 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $170.40, for a total transaction of $177,216.00. Following the sale, the insider now directly owns 5,974 shares in the company, valued at approximately $1,017,969.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.
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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