3M Price Target Cut to $140.00 (MMM)
Investment analysts at Deutsche Bank decreased their target price on shares of 3M (NYSE:MMM) from $143.00 to $140.00 in a note issued to investors on Friday, Analyst Ratings News reports. Deutsche Bank’s price objective would suggest a potential upside of 9.21% from the company’s current price.
3M (NYSE:MMM) traded up 0.11% on Friday, hitting $128.19. The stock had a trading volume of 3,715,366 shares. 3M has a one year low of $100.58 and a one year high of $140.43. The stock’s 50-day moving average is $135.0 and its 200-day moving average is $124.4. The company has a market cap of $86.306 billion and a P/E ratio of 19.68.
3M (NYSE:MMM) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.61 by $0.01. The company had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.70 billion. On average, analysts predict that 3M will post $7.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a dividend of 0.855 per share. This represents a $3.42 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost from 3M’s previous quarterly dividend of $0.64.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of 3M in a research note to investors on Tuesday, January 21st. They now have a $144.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of 3M from $142.00 to $160.00 in a research note to investors on Tuesday, December 31st. They now have an “outperform” rating on the stock. Finally, analysts at Ned Davis Research upgraded shares of 3M from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $139.23.
3M Company (NYSE:MMM) is a diversified technology company with a presence in the industrial and transportation; health care; consumer and office; safety, security and protection services; display and graphics, and electro and communications businesses.
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