3M (MMM) to Release Earnings on Tuesday

3M (NYSE:MMM) is expected to be releasing its earnings data before the market opens on Tuesday, January 21st. Analysts expect 3M to post earnings of $1.67 per share and revenue of $5,770,390.00 billion for the quarter.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter last year, the business earned $2.68 earnings per share. 3M’s revenue was down 24.3% on a year-over-year basis. On average, analysts expect 3M to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

3M Price Performance

MMM traded up $0.86 on Wednesday, hitting $138.07. 4,113,224 shares of the stock were exchanged, compared to its average volume of 3,810,175. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The firm has a market capitalization of $75.19 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.15 and a beta of 0.95. The business has a 50-day moving average of $130.90 and a two-hundred day moving average of $127.12.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Ratings Changes

MMM has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their target price on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Bank of America lifted their price target on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut their target price on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.13.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.