3M Company (MMM) Scheduled to Post Quarterly Earnings on Tuesday
3M Company (NYSE:MMM) is scheduled to release its earnings data before the market opens on Tuesday, July 25th. Analysts expect 3M to post 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 issued its quarterly earnings data on Tuesday, April 25th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same period in the previous year, the firm posted $1.95 EPS. The company’s quarterly 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 firm has a market capitalization of $126.42 billion, a P/E ratio of 25.60 and a beta of 1.09. 3M Company has a 12 month low of $163.85 and a 12 month high of $214.57. The company’s 50 day moving average price is $204.94 and its 200 day moving average price is $190.31.
Several analysts recently commented on MMM shares. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $213.00 target price for the company in a research note on Wednesday, March 29th. Vetr raised shares of 3M from a “sell” rating to a “hold” rating and set a $183.19 target price for the company in a research note on Friday, April 14th. Barclays PLC reissued an “overweight” rating and set a $201.00 target price (up from $200.00) on shares of 3M in a research note on Wednesday, April 19th. Jefferies Group LLC increased their target price on shares of 3M from $210.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Finally, Stifel Nicolaus increased their target price on shares of 3M from $190.00 to $202.00 and gave the company a “hold” rating in a research note on Wednesday, April 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $201.55.
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In other 3M news, VP Marlene Mary Mcgrath sold 14,766 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $194.88, for a total value of $2,877,598.08. Following the transaction, the vice president now owns 24,480 shares in the company, valued at approximately $4,770,662.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kimberly F. Price sold 3,016 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $198.11, for a total transaction of $597,499.76. Following the completion of the transaction, the insider now owns 9,292 shares in the company, valued at approximately $1,840,838.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,698 shares of company stock worth $6,593,443. Company insiders own 0.58% of the company’s stock.
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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