3M (MMM) Getting Somewhat Positive Press Coverage, Study Shows
News coverage about 3M (NYSE:MMM) has trended somewhat positive recently, Accern Sentiment Analysis reports. The research firm ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. 3M earned a news sentiment score of 0.24 on Accern’s scale. Accern also assigned media headlines about the conglomerate an impact score of 47.0834627757215 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the media headlines that may have effected Accern Sentiment’s scoring:
- Top-notch Stocks to Watch: 3M Company (MMM), Gulfport Energy Corporation (GPOR) – Market Movers (financialqz.com)
- Kim Jong Nam had nerve agent antidote in bag, Malaysian court told (feeds.reuters.com)
- 3M Leads Dow to Latest Milestone (finance.yahoo.com)
- Uber’s use of encrypted messaging may set legal precedents (feeds.reuters.com)
- Will 3M Raise Its Dividend in 2018? (fool.com)
MMM has been the subject of a number of analyst reports. Bank of America raised their price target on 3M from $227.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Argus lifted their price objective on 3M from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Credit Suisse Group reissued an “outperform” rating and set a $237.00 price objective (up previously from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Finally, J P Morgan Chase & Co lowered 3M from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $185.00 to $201.00 in a research note on Wednesday, September 20th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. 3M has a consensus rating of “Hold” and an average target price of $231.16.
3M (MMM) traded down $1.99 on Friday, hitting $241.15. The stock had a trading volume of 2,232,292 shares, compared to its average volume of 1,838,657. The stock has a market capitalization of $143,630.00, a P/E ratio of 26.33, a P/E/G ratio of 2.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. 3M has a 1 year low of $171.09 and a 1 year high of $243.63.
3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.12. The firm had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.15 earnings per share. analysts expect that 3M will post 9.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be paid a $0.0118 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.05 annualized dividend and a dividend yield of 0.02%. 3M’s payout ratio is presently 52.46%.
In other 3M news, insider Frank R. Jr. Little sold 1,500 shares of 3M stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $234.47, for a total transaction of $351,705.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Khandpur K. Ashish sold 4,004 shares of 3M stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total value of $926,485.56. Following the sale, the vice president now directly owns 5,236 shares in the company, valued at $1,211,558.04. The disclosure for this sale can be found here. Insiders sold 22,804 shares of company stock worth $5,303,706 over the last three months. 0.58% of the stock is owned by insiders.
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, , 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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