$2.01 Earnings Per Share Expected for 3M Company (MMM) This Quarter

Equities research analysts forecast that 3M Company (NYSE:MMM) will announce earnings per share of $2.01 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for 3M’s earnings. The highest EPS estimate is $2.11 and the lowest is $1.95. 3M posted earnings of $1.88 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6.9%. The business is scheduled to announce its next earnings report on Tuesday, January 23rd.

On average, analysts expect that 3M will report full year earnings of $9.06 per share for the current financial year, with EPS estimates ranging from $8.85 to $9.18. For the next year, analysts expect that the business will post earnings of $9.67 per share, with EPS estimates ranging from $9.27 to $9.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow 3M.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the firm posted $2.15 EPS. 3M’s quarterly revenue was up 6.0% on a year-over-year basis.

A number of equities analysts recently weighed in on MMM shares. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Bank of America reiterated a “buy” rating and issued a $227.00 price objective on shares of 3M in a research report on Thursday, September 14th. Credit Suisse Group reiterated an “outperform” rating and issued a $237.00 price objective (up from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Citigroup lifted their price objective on shares of 3M from $250.00 to $262.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, ValuEngine lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $231.16.

In other news, CFO Nicholas C. Gangestad sold 4,004 shares of 3M stock in a transaction on Friday, October 27th. The stock was sold at an average price of $233.84, for a total transaction of $936,295.36. Following the completion of the transaction, the chief financial officer now owns 25,805 shares of the company’s stock, valued at approximately $6,034,241.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Inge G. Thulin sold 6,823 shares of 3M stock in a transaction on Friday, October 27th. The stock was sold at an average price of $233.14, for a total value of $1,590,714.22. Following the transaction, the chairman now directly owns 196,906 shares of the company’s stock, valued at approximately $45,906,664.84. The disclosure for this sale can be found here. Insiders have sold a total of 22,804 shares of company stock worth $5,303,706 over the last 90 days. Insiders own 0.58% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MMM. Karp Capital Management Corp raised its stake in shares of 3M by 16,353.8% during the 1st quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock worth $94,947,000 after buying an additional 493,230 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of 3M during the 2nd quarter worth $89,237,000. State of Tennessee Treasury Department raised its stake in shares of 3M by 92.6% during the 1st quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock worth $87,828,000 after buying an additional 220,741 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of 3M by 3.9% during the 1st quarter. First Eagle Investment Management LLC now owns 4,413,897 shares of the conglomerate’s stock worth $844,511,000 after buying an additional 167,491 shares during the last quarter. Finally, Coho Partners Ltd. raised its stake in shares of 3M by 26.8% during the 2nd quarter. Coho Partners Ltd. now owns 687,532 shares of the conglomerate’s stock worth $143,137,000 after buying an additional 145,318 shares during the last quarter. 66.33% of the stock is owned by institutional investors and hedge funds.

3M (MMM) opened at $238.13 on Monday. 3M has a 1 year low of $173.55 and a 1 year high of $244.23. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. The firm has a market cap of $141,830.00, a price-to-earnings ratio of 26.61, a P/E/G ratio of 2.58 and a beta of 1.10.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th will be given a dividend of $0.0118 per share. 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 currently 52.46%.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.dispatchtribunal.com/2017/12/11/2-01-earnings-per-share-expected-for-3m-company-mmm-this-quarter.html.

3M Company Profile

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.

Get a free copy of the Zacks research report on 3M (MMM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for 3M Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply