Equities research analysts expect 3M Co (NYSE:MMM) to report sales of $8.42 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for 3M’s earnings. The lowest sales estimate is $8.36 billion and the highest is $8.53 billion. 3M posted sales of $8.17 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, October 23rd.

On average, analysts expect that 3M will report full-year sales of $33.21 billion for the current year, with estimates ranging from $33.07 billion to $33.42 billion. For the next financial year, analysts anticipate that the firm will post sales of $34.11 billion, with estimates ranging from $33.61 billion to $34.70 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow 3M.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.01. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.36 billion. 3M had a net margin of 13.44% and a return on equity of 51.31%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS.

Several analysts recently issued reports on the stock. Gordon Haskett assumed coverage on shares of 3M in a research report on Friday, October 12th. They set a “buy” rating on the stock. ValuEngine upgraded shares of 3M from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Deutsche Bank restated a “hold” rating and issued a $208.00 target price on shares of 3M in a research report on Thursday, July 12th. Barclays cut their target price on shares of 3M from $210.00 to $201.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 25th. Finally, MED lowered shares of 3M from a “buy” rating to a “hold” rating and set a $208.00 target price on the stock. in a research report on Thursday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $233.79.

In other 3M news, insider Eric D. Hammes sold 1,272 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $216.00, for a total value of $274,752.00. Following the sale, the insider now owns 5,634 shares in the company, valued at $1,216,944. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon T. Lindekugel sold 6,410 shares of 3M stock in a transaction on Friday, August 10th. The stock was sold at an average price of $203.01, for a total transaction of $1,301,294.10. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Several large investors have recently modified their holdings of the company. Rainier Group Investment Advisory LLC bought a new position in 3M during the first quarter worth $114,000. SRS Capital Advisors Inc. raised its stake in 3M by 1,652.8% during the second quarter. SRS Capital Advisors Inc. now owns 631 shares of the conglomerate’s stock worth $124,000 after buying an additional 595 shares during the last quarter. Avestar Capital LLC raised its stake in 3M by 161.2% during the second quarter. Avestar Capital LLC now owns 700 shares of the conglomerate’s stock worth $130,000 after buying an additional 432 shares during the last quarter. Braun Bostich & Associates Inc. raised its stake in 3M by 221.7% during the second quarter. Braun Bostich & Associates Inc. now owns 698 shares of the conglomerate’s stock worth $137,000 after buying an additional 481 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in 3M during the second quarter worth $149,000. Institutional investors own 67.05% of the company’s stock.

Shares of NYSE MMM traded down $0.53 during trading hours on Wednesday, hitting $199.85. 3,071,766 shares of the stock were exchanged, compared to its average volume of 2,368,925. The company has a current ratio of 1.56, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $117.55 billion, a price-to-earnings ratio of 21.79, a P/E/G ratio of 1.92 and a beta of 1.15. 3M has a 1-year low of $190.57 and a 1-year high of $259.77.

3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Earnings History and Estimates for 3M (NYSE:MMM)

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