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

3M (NYSE:MMM - Get Free Report) is scheduled to release its earnings data before the market opens on Tuesday, April 30th. Analysts expect 3M to post earnings of $2.08 per share for the quarter. Persons interested in participating in the company's earnings conference call can do so using this link.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.28 EPS. On average, analysts expect 3M to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

3M Trading Up 0.4 %

MMM traded up $0.38 during midday trading on Tuesday, hitting $93.00. 3,694,505 shares of the company were exchanged, compared to its average volume of 5,803,995. The firm has a market capitalization of $51.46 billion, a P/E ratio of -7.36, a P/E/G ratio of 1.63 and a beta of 1.02. 3M has a 1-year low of $71.12 and a 1-year high of $95.67. The firm's 50 day moving average price is $95.72 and its 200-day moving average price is $97.40. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M's previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a dividend yield of 6.49%. 3M's dividend payout ratio (DPR) is -47.82%.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MMM shares. Citigroup lifted their price objective on 3M from $95.31 to $98.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. StockNews.com raised 3M from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 16th. Mizuho reaffirmed a "neutral" rating and issued a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. Royal Bank of Canada decreased their target price on 3M from $84.00 to $78.00 and set an "underperform" rating for the company in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their target price on 3M from $118.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, 3M currently has an average rating of "Hold" and an average price target of $104.00.

About 3M

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.