3M (NYSE:MMM – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 6.800-7.300 for the period, compared to the consensus estimate of 7.000. The company issued revenue guidance of -.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Royal Bank of Canada cut their price objective on 3M from $84.00 to $78.00 and set an underperform rating for the company in a report on Tuesday, April 2nd. Barclays cut their target price on 3M from $126.00 to $107.00 and set an overweight rating on the stock in a report on Tuesday, April 2nd. Wells Fargo & Company dropped their price objective on 3M from $112.00 to $105.00 and set an equal weight rating on the stock in a research note on Wednesday, January 24th. Bank of America dropped their price objective on 3M from $110.00 to $100.00 and set a neutral rating on the stock in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on 3M from $118.00 to $110.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $104.00.
View Our Latest Stock Report on 3M
3M Stock Performance
3M Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 6.35%. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s payout ratio is presently -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 that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.
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.
See Also
- Five stocks we like better than 3M
- What is Short Interest? How to Use It
- NXP Semiconductors Will Set a New High Soon: $300 in Sight
- How to Invest in the Best Canadian Stocks
- Hilton Demonstrates Asset Light is Right for Investors
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Boston Scientific Bucks the Medtech Slow Down and Raises Outlook
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.