3M (MMM) Issues FY18 Earnings Guidance
3M (NYSE:MMM) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $9.60-10.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $9.61. 3M also updated its FY17 guidance to $9.00-9.10 EPS.
A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of 3M from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of 3M from a hold rating to a buy rating and set a $258.00 price target on the stock in a research report on Tuesday, November 7th. Goldman Sachs Group reissued a sell rating on shares of 3M in a research report on Thursday, October 26th. Citigroup lifted their price target 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, Jefferies Group lifted their price target on shares of 3M to $262.00 and gave the company a buy rating in a research report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. 3M currently has an average rating of Hold and a consensus target price of $231.16.
Shares of 3M (NYSE:MMM) traded up $1.17 during mid-day trading on Tuesday, reaching $239.30. 1,742,800 shares of the company were exchanged, compared to its average volume of 1,838,718. 3M has a fifty-two week low of $173.55 and a fifty-two week high of $244.23. The company has a market capitalization of $141,832.17, a price-to-earnings ratio of 26.61, a P/E/G ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47.
3M (NYSE:MMM) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. 3M’s revenue was up 6.0% compared to the same quarter last year. equities analysts anticipate that 3M will post 9.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be given a dividend of $0.0118 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Wednesday, November 22nd. 3M’s dividend payout ratio (DPR) is currently 52.51%.
In other 3M news, insider Jon T. Lindekugel sold 400 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total value of $92,024.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Khandpur K. Ashish sold 4,004 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total transaction of $926,485.56. Following the completion of the sale, the vice president now directly owns 5,236 shares in the company, valued at approximately $1,211,558.04. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock worth $5,303,706 in the last ninety days. 0.58% of the stock is currently owned by insiders.
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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.
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