3M Company (NYSE:MMM) will be issuing its quarterly earnings data before the market opens on Tuesday, July 25th. Analysts expect the company to announce earnings of $2.57 per share for the quarter. 3M has set its FY17 guidance at $8.70-9.05 EPS.
3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.09. 3M had a return on equity of 44.95% and a net margin of 16.78%. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same period last year, the business posted $1.95 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, analysts expect 3M to post $8.98 EPS for the current fiscal year and $9.59 EPS for the next fiscal year.
3M Company (NYSE MMM) opened at 211.68 on Tuesday. The stock has a 50 day moving average price of $204.94 and a 200-day moving average price of $190.31. 3M Company has a one year low of $163.85 and a one year high of $214.57. The stock has a market capitalization of $126.42 billion, a P/E ratio of 25.60 and a beta of 1.09.
In related news, insider Kimberly F. Price sold 3,016 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $198.11, for a total value of $597,499.76. Following the completion of the sale, the insider now owns 9,292 shares in the company, valued at $1,840,838.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the completion of the sale, the vice president now owns 24,480 shares of the company’s stock, valued at approximately $4,770,662.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,698 shares of company stock worth $6,593,443. Corporate insiders own 0.58% of the company’s stock.
Several research firms recently commented on MMM. Stifel Nicolaus increased their target price on 3M from $190.00 to $202.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $213.00 target price on the stock in a report on Wednesday, March 29th. Vetr raised 3M from a “sell” rating to a “hold” rating and set a $183.19 target price on the stock in a report on Friday, April 14th. Morgan Stanley reissued an “underweight” rating and issued a $191.00 target price (down previously from $193.00) on shares of 3M in a report on Monday, July 10th. Finally, Credit Suisse Group reissued a “buy” rating on shares of 3M in a report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and a consensus target price of $201.55.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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