3M (MMM) Set to Announce Quarterly Earnings on Tuesday

3M (NYSE:MMM - Get Free Report) will issue its quarterly earnings data before the market opens on Tuesday, January 23rd. Analysts expect the company to announce earnings of $2.31 per share for the quarter. Investors that are interested in participating in the company's conference call can do so using this link.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.34. 3M had a negative net margin of 22.59% and a positive return on equity of 47.18%. The firm had revenue of $8.31 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter in the previous year, the business posted $2.69 earnings per share. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts expect 3M to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

3M Stock Down 0.7 %

MMM stock opened at $108.12 on Tuesday. 3M has a 52-week low of $85.35 and a 52-week high of $129.90. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.05 and a quick ratio of 0.72. The stock has a market capitalization of $59.72 billion, a price-to-earnings ratio of -8.10, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02. The company has a 50-day moving average of $102.35 and a two-hundred day moving average of $100.15.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Friday, November 17th were issued a dividend of $1.50 per share. The ex-dividend date was Thursday, November 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 5.55%. 3M's payout ratio is -44.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of 3M from $104.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 25th. Citigroup boosted their price objective on shares of 3M from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, October 25th. Wells Fargo & Company boosted their target price on 3M from $100.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 19th. StockNews.com raised shares of 3M from a "hold" rating to a "buy" rating in a report on Wednesday, October 25th. Finally, Royal Bank of Canada decreased their price objective on 3M from $85.00 to $83.00 and set an "underperform" rating for the company in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, 3M has a consensus rating of "Hold" and an average target price of $107.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Moneta Group Investment Advisors LLC increased its stake in 3M by 73,903.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,656,588 shares of the conglomerate's stock valued at $798,258,000 after purchasing an additional 6,647,593 shares in the last quarter. Norges Bank bought a new stake in 3M in the 4th quarter worth about $369,974,000. Renaissance Technologies LLC grew its position in 3M by 1,889.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,356,600 shares of the conglomerate's stock worth $201,971,000 after purchasing an additional 1,288,400 shares in the last quarter. Morgan Stanley grew its position in 3M by 8.3% in the 4th quarter. Morgan Stanley now owns 10,769,973 shares of the conglomerate's stock worth $1,291,535,000 after purchasing an additional 825,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in 3M by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,315,417 shares of the conglomerate's stock worth $1,684,639,000 after purchasing an additional 758,126 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

About 3M

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.

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