Morningstar Gives AA- Credit Rating to 3M (MMM)
3M (NYSE:MMM) has earned an “AA-” credit rating from analysts at Morningstar. The firm’s “AA-” rating indicates that the company is a very-low default risk. They also issued a negative credit outlook for the company and gave their stock a two star rating.
MMM has been the subject of a number of other recent research reports. 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. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $144.25.
3M (NYSE:MMM) traded up 0.01% during mid-day trading on Monday, hitting $144.00. 1,537,846 shares of the company’s stock traded hands. 3M has a 52-week low of $112.85 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 $139.6. The company has a market cap of $93.308 billion and a price-to-earnings ratio of 20.29.
3M (NYSE:MMM) last announced its 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. On average, analysts predict that 3M will post $7.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors 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 2.38%. The ex-dividend date is Wednesday, August 20th.
3M Company (NYSE:MMM) is a diversified technology company.
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