3M (NYSE:MMM) Receives Average Recommendation of “Reduce” from Analysts
3M (NYSE:MMM – Get Free Report) has been given a consensus recommendation of “Reduce” by the ten research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $105.20.
A number of brokerages have issued reports on MMM. Mizuho reissued a “neutral” rating and issued a $120.00 price target on shares of 3M in a research note on Tuesday, August 29th. Wells Fargo & Company decreased their target price on 3M from $115.00 to $93.00 in a research report on Monday, October 9th. Royal Bank of Canada lowered their price target on 3M from $85.00 to $83.00 and set an “underperform” rating for the company in a report on Wednesday, October 25th. Barclays upgraded 3M from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $98.00 to $107.00 in a report on Monday, December 4th. Finally, StockNews.com upgraded 3M from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th.
Read Our Latest Stock Report on MMM
3M Stock Down 0.2 %
3M stock opened at $106.86 on Friday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.72 and a current ratio of 1.05. The firm has a market capitalization of $59.02 billion, a price-to-earnings ratio of -8.00, a price-to-earnings-growth ratio of 1.56 and a beta of 0.99. 3M has a fifty-two week low of $85.35 and a fifty-two week high of $129.90. The stock’s fifty day moving average is $94.70 and its two-hundred day moving average is $99.03.
3M (NYSE:MMM – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.34. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $7.99 billion. 3M had a positive return on equity of 47.18% and a negative net margin of 22.59%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.69 earnings per share. Analysts predict that 3M will post 9.12 EPS for the current fiscal year.
3M Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, November 17th were issued a $1.50 dividend. The ex-dividend date was Thursday, November 16th. This represents a $6.00 annualized dividend and a dividend yield of 5.61%. 3M’s dividend payout ratio (DPR) is -44.94%.
Institutional Trading of 3M
Institutional investors have recently modified their holdings of the company. Financial Freedom LLC purchased a new stake in shares of 3M during the fourth quarter valued at $25,000. DHJJ Financial Advisors Ltd. acquired a new position in 3M in the 3rd quarter worth about $28,000. Briaud Financial Planning Inc acquired a new position in 3M in the 3rd quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of 3M during the 3rd quarter valued at about $37,000. Finally, Retirement Group LLC increased its holdings in shares of 3M by 267.0% during the 1st quarter. Retirement Group LLC now owns 367 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 267 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.
About 3M (Get Free Report
3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.
Further Reading
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Original: MarketBeat News Feed: 3M (NYSE:MMM) Receives Average Recommendation of “Reduce” from Analysts