3M Co (NYSE:MMM) – Investment analysts at Jefferies Financial Group issued their Q1 2020 EPS estimates for shares of 3M in a report released on Tuesday, January 28th. Jefferies Financial Group analyst L. Alexander forecasts that the conglomerate will post earnings of $2.09 per share for the quarter. Jefferies Financial Group also issued estimates for 3M’s Q2 2020 earnings at $2.35 EPS, Q4 2020 earnings at $2.22 EPS, FY2020 earnings at $9.40 EPS, FY2021 earnings at $10.25 EPS and FY2023 earnings at $11.95 EPS.
A number of other brokerages also recently issued reports on MMM. Royal Bank of Canada cut their price objective on 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. UBS Group downgraded 3M from a “neutral” rating to a “sell” rating and cut their price objective for the company from $180.00 to $160.00 in a research note on Thursday, December 12th. Wolfe Research upgraded 3M from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. upgraded 3M from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $143.00 to $150.00 in a research note on Monday, December 23rd. Finally, Deutsche Bank boosted their price objective on 3M from $160.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $173.92.
Shares of NYSE:MMM opened at $158.66 on Thursday. The stock has a 50 day moving average of $176.02 and a 200 day moving average of $168.74. The company has a market cap of $93.16 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 1.79 and a debt-to-equity ratio of 1.73. 3M has a 12-month low of $150.58 and a 12-month high of $219.75.
3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 28th. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.15). The firm had revenue of $8.11 billion for the quarter, compared to the consensus estimate of $8.12 billion. 3M had a net margin of 14.22% and a return on equity of 51.39%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share.
In related news, SVP Eric D. Hammes sold 1,341 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $174.25, for a total value of $233,669.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Julie L. Bushman sold 6,879 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $165.09, for a total value of $1,135,654.11. Over the last three months, insiders sold 13,216 shares of company stock worth $2,233,940. 0.83% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Colony Group LLC raised its holdings in shares of 3M by 59.6% during the 2nd quarter. Colony Group LLC now owns 9,119 shares of the conglomerate’s stock worth $1,581,000 after acquiring an additional 3,406 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in shares of 3M by 16.5% during the 2nd quarter. Chartwell Investment Partners LLC now owns 29,058 shares of the conglomerate’s stock worth $5,037,000 after acquiring an additional 4,107 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of 3M during the 2nd quarter worth approximately $138,000. BlackRock Inc. raised its holdings in shares of 3M by 1.2% during the 2nd quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock worth $6,783,640,000 after acquiring an additional 472,084 shares in the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of 3M by 21.3% during the 2nd quarter. RFG Advisory LLC now owns 4,691 shares of the conglomerate’s stock worth $808,000 after acquiring an additional 823 shares in the last quarter. 66.51% of the stock is currently owned by institutional investors.
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.