Q4 2017 EPS Estimates for 3M Co (MMM) Reduced by William Blair
3M Co (NYSE:MMM) – William Blair lowered their Q4 2017 earnings per share (EPS) estimates for 3M in a research report issued on Wednesday. William Blair analyst N. Heymann now expects that the conglomerate will earn $1.95 per share for the quarter, down from their previous forecast of $2.06. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for 3M’s Q3 2018 earnings at $2.61 EPS and Q4 2018 earnings at $2.27 EPS.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of 3M from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Bank of America Corporation reaffirmed a “buy” rating and set a $227.00 price objective on shares of 3M in a research note on Thursday, September 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $234.00 price objective on shares of 3M in a research note on Wednesday, August 16th. Citigroup Inc. lowered their price objective on shares of 3M from $230.00 to $228.00 and set a “buy” rating for the company in a research note on Wednesday, July 26th. Finally, Argus upped their price objective on shares of 3M from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $230.44.
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3M (NYSE MMM) traded up 0.03% on Friday, hitting $233.00. The stock had a trading volume of 721,925 shares. 3M has a 52-week low of $163.85 and a 52-week high of $238.90. The stock’s 50-day moving average is $214.63 and its 200-day moving average is $206.18. The company has a market cap of $139.05 billion, a P/E ratio of 26.58 and a beta of 1.09.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.12. 3M had a return on equity of 48.18% and a net margin of 17.54%. The firm had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company posted $2.15 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis.
In other 3M news, insider Paul A. Keel sold 4,965 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the completion of the transaction, the insider now owns 5,503 shares of the company’s stock, valued at $1,134,498.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank R. Jr. Little sold 2,719 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $206.03, for a total transaction of $560,195.57. Following the transaction, the insider now directly owns 9,010 shares of the company’s stock, valued at approximately $1,856,330.30. The disclosure for this sale can be found here. Insiders have sold 9,112 shares of company stock valued at $1,878,890 in the last ninety days. Insiders own 0.58% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MMM. MPS Loria Financial Planners LLC bought a new position in shares of 3M during the second quarter valued at approximately $124,000. Proficio Capital Partners LLC increased its stake in shares of 3M by 156.0% during the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after purchasing an additional 404 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in shares of 3M by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 4 shares in the last quarter. Harfst & Associates Inc. increased its stake in shares of 3M by 17.0% during the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 100 shares in the last quarter. Finally, One Capital Management LLC bought a new position in shares of 3M during the first quarter valued at approximately $202,000. 66.19% of the stock is owned by institutional investors and hedge funds.
3M Company Profile
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, , 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.
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