3M (MMM) Expected to Announce Earnings on Tuesday

3M (NYSE:MMM) is projected to issue its quarterly earnings data before the market opens on Tuesday, January 21st. Analysts expect the company to announce earnings of $1.67 per share and revenue of $5,770,390.00 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the company earned $2.68 earnings per share. 3M’s revenue was down 24.3% on a year-over-year basis. On average, analysts expect 3M to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

3M Stock Up 1.3 %

MMM stock opened at $141.02 on Monday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.66. The business’s 50-day moving average is $131.24 and its two-hundred day moving average is $127.74. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The company has a market cap of $76.80 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays cut their target price on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Mizuho lifted their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. Bank of America raised their price target on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and a consensus target price of $144.13.

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.