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.
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.
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.
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