3M (NYSE:MMM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of 3M (NYSE:MMM) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $147.00.

A number of brokerages have recently commented on MMM. Bank of America boosted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Citigroup decreased their price objective on 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research report on Thursday, April 24th. Royal Bank of Canada increased their price target on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th.

Institutional Trading of 3M

A number of hedge funds have recently modified their holdings of MMM. Financial Life Planners bought a new stake in shares of 3M during the fourth quarter worth approximately $25,000. REAP Financial Group LLC boosted its stake in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 94 shares during the period. Curat Global LLC acquired a new position in 3M in the 1st quarter valued at $29,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M during the fourth quarter worth $27,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of 3M in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 0.9 %

MMM opened at $140.78 on Tuesday. The firm’s fifty day simple moving average is $142.20 and its 200 day simple moving average is $138.42. The stock has a market capitalization of $75.77 billion, a P/E ratio of 18.65, a P/E/G ratio of 3.30 and a beta of 1.01. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12 month low of $95.01 and a 12 month high of $156.35.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

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.