3M (MMM) to Release Quarterly Earnings on Tuesday

3M (NYSE:MMM) will likely be posting its quarterly earnings results before the market opens on Tuesday, April 22nd. Analysts expect 3M to post earnings of $1.76 per share and revenue of $5.78 billion for the quarter. 3M has set its FY 2025 guidance at 7.600-7.900 EPS and its FY25 guidance at $7.60-7.90 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 earnings per share. On average, analysts expect 3M to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

3M Trading Down 0.2 %

MMM opened at $130.16 on Monday. 3M has a one year low of $90.65 and a one year high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a market cap of $70.20 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 3.30 and a beta of 1.01. The stock’s 50 day moving average price is $144.53 and its 200-day moving average price is $138.26.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 2.24%. 3M’s dividend payout ratio (DPR) is presently 38.68%.

Insiders Place Their Bets

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in 3M stock. Brighton Jones LLC grew its position in 3M (NYSE:MMM) by 26.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,898 shares of the conglomerate’s stock after purchasing an additional 1,872 shares during the period. Brighton Jones LLC’s holdings in 3M were worth $1,149,000 at the end of the most recent quarter. 65.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on MMM. Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Barclays reduced their target price on shares of 3M from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Citigroup lowered their price target on 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Tuesday, April 8th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.47.

About 3M

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.