3M Co (NYSE:MMM) Receives Average Recommendation of “Hold” from Analysts

Share on StockTwits

3M Co (NYSE:MMM) has received a consensus rating of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $175.75.

Several equities research analysts have recently commented on the stock. Credit Suisse Group boosted their target price on shares of 3M from $180.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Bank of America reduced their target price on shares of 3M from $193.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Morgan Stanley reduced their target price on shares of 3M from $177.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Barclays reduced their target price on shares of 3M from $162.00 to $158.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada set a $179.00 target price on shares of 3M and gave the company a “hold” rating in a research note on Friday, July 26th.

In related news, insider John Patrick Banovetz sold 1,040 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $170.40, for a total transaction of $177,216.00. Following the transaction, the insider now owns 5,974 shares in the company, valued at approximately $1,017,969.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MMM. Kempen Capital Management N.V. acquired a new position in 3M during the 2nd quarter valued at about $25,000. Atwater Malick LLC acquired a new position in 3M during the 3rd quarter valued at about $30,000. Weaver Consulting Group acquired a new position in 3M during the 1st quarter valued at about $32,000. Arcus Capital Partners LLC acquired a new position in 3M during the 2nd quarter valued at about $35,000. Finally, SRS Capital Advisors Inc. acquired a new position in 3M during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 66.78% of the company’s stock.

Shares of NYSE:MMM traded down $0.22 on Friday, hitting $163.32. The stock had a trading volume of 1,409,038 shares, compared to its average volume of 2,942,137. 3M has a twelve month low of $150.58 and a twelve month high of $219.75. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.34 and a current ratio of 1.93. The firm’s 50 day moving average price is $162.27 and its 200-day moving average price is $174.27. The company has a market capitalization of $93.76 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11.

3M (NYSE:MMM) last issued its earnings results on Thursday, July 25th. The conglomerate reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.16. 3M had a net margin of 15.27% and a return on equity of 55.05%. The company had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter in the previous year, the company earned $2.59 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that 3M will post 9.18 EPS for the current year.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

Read More: Buy Rating

Analyst Recommendations for 3M (NYSE:MMM)

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.



Latest News

Barclays Reaffirms Buy Rating for Target
Barclays Reaffirms Buy Rating for Target
ZEALAND PHARMA/S  Cut to “Hold” at Jefferies Financial Group
ZEALAND PHARMA/S Cut to “Hold” at Jefferies Financial Group
Wix.Com  PT Lowered to $140.00
Wix.Com PT Lowered to $140.00
Canaccord Genuity Reaffirms “Sell” Rating for Meridian Bioscience
Canaccord Genuity Reaffirms “Sell” Rating for Meridian Bioscience
Morgan Stanley Emerging Markets Domestic  Shares Pass Below 50-Day Moving Average of $6.83
Morgan Stanley Emerging Markets Domestic Shares Pass Below 50-Day Moving Average of $6.83
Alumasc Group  Reaches New 1-Year Low at $80.00
Alumasc Group Reaches New 1-Year Low at $80.00


© 2006-2019 Ticker Report