3M (MMM) Set to Announce Earnings on Tuesday

3M (NYSE:MMM) is scheduled to 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. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

3M Stock Performance

3M stock opened at $91.83 on Friday. The company has a 50 day moving average price of $95.71 and a 200-day moving average price of $97.41. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67. The company has a market capitalization of $50.82 billion, a PE ratio of -7.27, a P/E/G ratio of 1.73 and a beta of 1.02.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.58%. The ex-dividend date was Thursday, February 15th. 3M’s payout ratio is currently -47.82%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MMM. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Bank of America cut their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. Barclays cut their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Citigroup boosted their price target on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $104.00.

Insider Activity at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

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.