3M (MMM) Set to Announce Quarterly Earnings on Tuesday

3M (NYSE:MMM) will post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect 3M to post earnings of $2.08 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the prior year, the business posted $2.28 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts expect 3M to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

3M Trading Up 0.4 %

Shares of MMM opened at $92.61 on Tuesday. The firm has a market capitalization of $51.25 billion, a price-to-earnings ratio of -7.33, a PEG ratio of 1.63 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. 3M has a 1-year low of $71.12 and a 1-year high of $95.67. The company has a 50-day moving average of $95.72 and a 200 day moving average of $97.40.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.82%.

Analyst Upgrades and Downgrades

MMM has been the topic of several research reports. Barclays reduced their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Royal Bank of Canada cut their price target on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Citigroup raised their target price on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $104.00.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.