3M Company (NYSE:MMM) – Research analysts at Jefferies Group boosted their FY2017 earnings estimates for shares of 3M in a research report issued on Tuesday. Jefferies Group analyst L. Alexander now anticipates that the conglomerate will earn $8.95 per share for the year, up from their previous forecast of $8.90. Jefferies Group has a “Buy” rating and a $234.00 price objective on the stock. Jefferies Group also issued estimates for 3M’s FY2019 earnings at $10.25 EPS and FY2020 earnings at $10.80 EPS.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $7.81 billion during the quarter, compared to the consensus estimate of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share.

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A number of other equities research analysts have also recently issued reports on the stock. Credit Suisse Group reaffirmed a “buy” rating on shares of 3M in a report on Thursday, April 27th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $213.00 price target on the stock in a report on Wednesday, March 29th. Stifel Nicolaus increased their price target on shares of 3M from $190.00 to $202.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. Vetr raised shares of 3M from a “sell” rating to a “hold” rating and set a $183.19 price target on the stock in a report on Friday, April 14th. Finally, Barclays PLC reissued an “overweight” rating and issued a $201.00 price target (up from $200.00) on shares of 3M in a report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $202.78.

Shares of 3M (NYSE:MMM) opened at 199.03 on Thursday. The company’s 50-day moving average price is $209.75 and its 200-day moving average price is $194.35. 3M has a 52-week low of $163.85 and a 52-week high of $214.57. The firm has a market capitalization of $118.87 billion, a P/E ratio of 24.07 and a beta of 1.09.

Institutional investors have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC increased its position in shares of 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock worth $122,000 after buying an additional 15 shares in the last quarter. Reilly Financial Advisors LLC increased its position in shares of 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock worth $123,000 after buying an additional 24 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its position in shares of 3M by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 714 shares of the conglomerate’s stock worth $128,000 after buying an additional 4 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of 3M by 156.0% in the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock worth $131,000 after buying an additional 404 shares in the last quarter. Finally, American Research & Management Co. increased its position in shares of 3M by 8.1% in the first quarter. American Research & Management Co. now owns 935 shares of the conglomerate’s stock worth $179,000 after buying an additional 70 shares in the last quarter. 65.78% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Jon T. Lindekugel sold 1,300 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $197.22, for a total transaction of $256,386.00. Following the completion of the transaction, the insider now owns 2,238 shares of the company’s stock, valued at $441,378.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the transaction, the vice president now directly owns 24,480 shares of the company’s stock, valued at approximately $4,770,662.40. The disclosure for this sale can be found here. Insiders sold 33,698 shares of company stock worth $6,593,443 in the last 90 days. Company insiders own 0.58% of the company’s stock.

About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

Earnings History and Estimates for 3M (NYSE:MMM)

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