3M Given Consensus Rating of “Hold” by Brokerages (NYSE:MMM)
Shares of 3M (NYSE:MMM) have been given an average rating of “Hold” by the fourteen brokerages that are currently covering the stock, Stock Ratings News reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $144.25.
A number of research firms have recently commented on MMM. Analysts at Zacks reiterated a “neutral” rating on shares of 3M in a research note on Monday, July 28th. They now have a $152.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of 3M in a research note on Friday, July 25th. They now have a $155.00 price target on the stock, up previously from $145.00. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of 3M in a research note on Friday, July 25th. They now have a $146.00 price target on the stock, up previously from $145.00.
In other 3M news, CEO Inge G. Thulin sold 13,749 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $139.49, for a total transaction of $1,917,848.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of 3M (NYSE:MMM) opened at 141.92 on Monday. 3M has a 52-week low of $112.36 and a 52-week high of $146.43. The stock’s 50-day moving average is $143.2 and its 200-day moving average is $138.3. The company has a market cap of $91.960 billion and a P/E ratio of 20.00.
3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.91 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.91. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that 3M will post $7.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.855 per share. This represents a $3.42 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, August 20th.
3M Company (NYSE:MMM) is a diversified technology company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.