3M Given Consensus Rating of “Hold” by Brokerages (NYSE:MMM)
3M (NYSE:MMM) has received a consensus recommendation of “Hold” from the fourteen brokerages that are covering the company, AnalystRatings.Net reports. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages 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.
3M (NYSE:MMM) opened at 144.50 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 $143.3 and its 200-day moving average is $138.7. The company has a market cap of $93.632 billion and a price-to-earnings ratio of 20.37.
3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.91 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $1.71 earnings per share. 3M’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that 3M will post $7.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.855 per share. This represents a $3.42 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Wednesday, August 20th.
3M Company (NYSE:MMM) is a diversified technology company.
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