Brokerages expect 3M Co (NYSE:MMM) to report $8.06 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for 3M’s earnings, with the lowest sales estimate coming in at $7.91 billion and the highest estimate coming in at $8.17 billion. 3M posted sales of $8.39 billion in the same quarter last year, which would suggest a negative year over year growth rate of 3.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, July 23rd.

On average, analysts expect that 3M will report full year sales of $32.39 billion for the current year, with estimates ranging from $31.95 billion to $32.70 billion. For the next year, analysts expect that the company will post sales of $33.27 billion, with estimates ranging from $32.98 billion to $33.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for 3M.

3M (NYSE:MMM) last announced its earnings results on Thursday, April 25th. The conglomerate reported $2.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.50 by ($0.27). 3M had a return on equity of 57.42% and a net margin of 17.43%. The firm had revenue of $7.86 billion for the quarter, compared to analyst estimates of $8.02 billion. During the same quarter last year, the business posted $2.50 EPS. The firm’s revenue was down 5.0% compared to the same quarter last year.

MMM has been the topic of a number of analyst reports. restated a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Morgan Stanley decreased their target price on shares of 3M from $201.00 to $199.00 and set an “equal weight” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. decreased their target price on shares of 3M from $158.00 to $154.00 and set an “underweight” rating on the stock in a research report on Friday, March 29th. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Finally, Barclays decreased their target price on shares of 3M from $189.00 to $188.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $197.92.

NYSE MMM traded down $1.70 during mid-day trading on Monday, reaching $172.42. 121,077 shares of the stock were exchanged, compared to its average volume of 2,628,984. 3M has a 1-year low of $172.79 and a 1-year high of $219.75. The firm has a market cap of $101.00 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.38 and a current ratio of 2.02.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be issued a $1.44 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.34%. 3M’s dividend payout ratio (DPR) is presently 55.07%.

In other 3M news, Chairman Inge G. Thulin sold 5,863 shares of 3M stock in a transaction on Friday, March 29th. The shares were sold at an average price of $207.78, for a total value of $1,218,214.14. Following the transaction, the chairman now owns 268,188 shares in the company, valued at approximately $55,724,102.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joaquin Delgado sold 4,897 shares of 3M stock in a transaction on Friday, February 15th. The shares were sold at an average price of $207.30, for a total transaction of $1,015,148.10. Following the completion of the transaction, the executive vice president now owns 23,191 shares in the company, valued at approximately $4,807,494.30. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Sandbar Asset Management LLP lifted its holdings in shares of 3M by 1,485.7% during the 1st quarter. Sandbar Asset Management LLP now owns 35,092 shares of the conglomerate’s stock valued at $7,291,000 after acquiring an additional 32,879 shares in the last quarter. Kore Private Wealth LLC acquired a new position in shares of 3M during the 1st quarter valued at $572,000. Kiwi Wealth Investments Limited Partnership acquired a new position in shares of 3M during the 1st quarter valued at $5,899,000. Wealthsource Partners LLC lifted its holdings in shares of 3M by 42.9% during the 1st quarter. Wealthsource Partners LLC now owns 2,310 shares of the conglomerate’s stock valued at $480,000 after acquiring an additional 694 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its holdings in shares of 3M by 13.0% during the 1st quarter. Financial Advocates Investment Management now owns 3,643 shares of the conglomerate’s stock valued at $757,000 after acquiring an additional 419 shares in the last quarter. Institutional investors and hedge funds own 67.11% of the company’s stock.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, 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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