3M (NYSE:MMM – Get Free Report) released its quarterly earnings results on Tuesday. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05, Briefing.com reports. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the company posted $2.68 EPS. The business’s revenue was down 24.3% on a year-over-year basis.
3M Stock Down 0.1 %
MMM traded down $0.12 during trading on Friday, hitting $126.35. 756,964 shares of the company’s stock were exchanged, compared to its average volume of 4,934,783. The stock has a market cap of $69.41 billion, a P/E ratio of 15.95, a PEG ratio of 2.42 and a beta of 0.95. The business’s 50 day moving average is $133.05 and its two-hundred day moving average is $113.65. 3M has a fifty-two week low of $72.47 and a fifty-two week high of $141.34. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.
3M Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is currently 35.35%.
Insider Activity
Analysts Set New Price Targets
Several brokerages recently commented on MMM. Bank of America upped their target price on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley started coverage on shares of 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price on the stock. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, July 30th. Finally, StockNews.com downgraded 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $135.67.
Check Out Our Latest Stock Report on MMM
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.
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