Equities analysts expect 3M Co (NYSE:MMM) to post earnings per share (EPS) of $2.50 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for 3M’s earnings. The lowest EPS estimate is $2.40 and the highest is $2.58. 3M also posted earnings of $2.50 per share during the same quarter last year. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, April 25th.
On average, analysts expect that 3M will report full-year earnings of $10.51 per share for the current fiscal year, with EPS estimates ranging from $10.28 to $10.80. For the next financial year, analysts anticipate that the business will report earnings of $11.37 per share, with EPS estimates ranging from $11.00 to $11.79. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow 3M.
3M (NYSE:MMM) last released its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.03. The firm had revenue of $7.95 billion during the quarter, compared to analyst estimates of $7.87 billion. 3M had a net margin of 16.33% and a return on equity of 57.70%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.10 EPS.
A number of research firms have weighed in on MMM. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Morgan Stanley cut their price objective on shares of 3M from $201.00 to $199.00 and set an “equal weight” rating for the company in a research report on Friday, March 22nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $220.00 price objective (down previously from $230.00) on shares of 3M in a research report on Thursday, January 3rd. Barclays cut their price objective on shares of 3M from $189.00 to $188.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a research report on Friday, March 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $205.50.
3M stock opened at $218.88 on Thursday. The firm has a market cap of $126.03 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.05 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29. 3M has a fifty-two week low of $176.87 and a fifty-two week high of $220.28.
In related news, CFO Nicholas C. Gangestad sold 4,681 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $201.34, for a total value of $942,472.54. Following the sale, the chief financial officer now owns 33,691 shares of the company’s stock, valued at $6,783,345.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Inge G. Thulin sold 5,863 shares of the company’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $207.78, for a total transaction of $1,218,214.14. Following the completion of the sale, the chairman now directly owns 268,188 shares in the company, valued at approximately $55,724,102.64. The disclosure for this sale can be found here. Insiders have sold 77,414 shares of company stock valued at $15,553,682 in the last ninety days. 0.83% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cordasco Financial Network grew its stake in 3M by 220.0% during the first quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock worth $33,000 after buying an additional 110 shares during the last quarter. Capital Financial Planning LLC bought a new stake in 3M during the fourth quarter worth about $34,000. Penserra Capital Management LLC bought a new stake in 3M during the fourth quarter worth about $35,000. Lake Point Wealth Management bought a new stake in 3M during the fourth quarter worth about $37,000. Finally, Intercontinental Wealth Advisors LLC bought a new stake in 3M during the fourth quarter worth about $38,000. 67.20% of the stock is currently owned by institutional investors and hedge funds.
3M Company Profile
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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