3M Receives Average Rating of “Buy” from Analysts (NYSE:MMM)
3M (NYSE:MMM) has received an average recommendation of “Buy” from the fourteen analysts that are covering the company, American Banking News reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $142.36.
MMM has been the subject of a number of recent research reports. Analysts at Morgan Stanley raised their price target on shares of 3M from $130.00 to $135.00 in a research note on Thursday. Separately, analysts at Citigroup Inc. upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, analysts at Argus upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday.
3M (NYSE:MMM) opened at 144.31 on Tuesday. 3M has a one year low of $112.36 and a one year high of $145.73. The stock has a 50-day moving average of $143.7 and a 200-day moving average of $137.2. The company has a market cap of $94.419 billion and a price-to-earnings ratio of 20.85.
3M (NYSE:MMM) last released its earnings data on Thursday, April 24th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $1.61 earnings per share. The company’s revenue for the quarter 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.
3M Company (NYSE:MMM) is a diversified technology company.
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