3M Sets New 1-Year High at $143.56 (MMM)
3M (NYSE:MMM) hit a new 52-week high during trading on Thursday , Stock Ratings Network.com reports. The company traded as high as $143.56 and last traded at $143.45, with a volume of 738,238 shares traded. The stock had previously closed at $142.26.
A number of research firms have recently commented on MMM. Analysts at Deutsche Bank reiterated a “hold” rating on shares of 3M in a research note on Friday, April 25th. They now have a $145.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of 3M in a research note on Friday, April 25th. They now have a $143.00 price target on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of 3M from $128.00 to $129.00 in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $141.08.
The stock’s 50-day moving average is $140.2 and its 200-day moving average is $134.6. The company has a market cap of $94.026 billion and a price-to-earnings ratio of 20.62.
3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.79 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.80 by $0.01. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.96 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts predict that 3M will post $7.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.855 per share. This represents a $3.42 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Wednesday, May 21st.
3M Company (NYSE:MMM) is a diversified technology company.
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