Investment Analysts’ Recent Ratings Changes for 3M (MMM)

3M (NYSE: MMM) has recently received a number of price target changes and ratings updates:

  • 2/12/2018 – 3M was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $254.92 price target on the stock.
  • 2/5/2018 – 3M was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $250.06 price target on the stock.
  • 1/30/2018 – 3M was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $290.00 price target on the stock. According to Zacks, “3M reported strong fourth-quarter 2017 results with healthy year-over-year increase in adjusted earnings and revenues. 3M's global footprint, diversified product portfolio and the ability to penetrate in different markets have been its forte. The company’s ability to convert high R&D spends into up-cycle market share gains and strong pricing powers determine its success. It remains focused on inventing new products, giving it a competitive advantage worldwide. Portfolio management, investment in innovation and business transformation are the three key levers on which the company intends to focus. 3M has outperformed the industry in the past three months. However, as exports form a significant part of the company’s operations and growth prospects, adverse foreign currency fluctuations is likely to negatively impact the company’s earnings in the short-term.”
  • 1/25/2018 – 3M had its “hold” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $254.00 price target on the stock.
  • 1/24/2018 – 3M was upgraded by analysts at Hilliard Lyons from a “neutral” rating to a “buy” rating. They now have a $285.00 price target on the stock.
  • 1/23/2018 – 3M was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $278.00 price target on the stock. According to Zacks, “3M's global footprint, diversified product portfolio and the ability to penetrate in different markets have been its forte. The company’s ability to convert high R&D spends into up-cycle market share gains and strong pricing powers determine its success. It remains focused on inventing new products, giving it a competitive advantage worldwide. Portfolio management, investment in innovation and business transformation are the three key levers on which the company intends to focus. 3M also intends to continue investing in capital expenditures and R&D to support organic growth as it aims a prudent capital structure strategy and increased capital deployment. 3M has outperformed the industry in the past three months. However, as exports form a significant part of the company’s operations and growth prospects, sustained strength in U.S. dollar will continue to negatively impact the company’s earnings in the short-term.”
  • 1/23/2018 – 3M is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $262.00 price target on the stock.
  • 1/22/2018 – 3M was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “3M's global footprint, diversified product portfolio and the ability to penetrate in different markets have been its forte. Portfolio management, investment in innovation and business transformation are the three key levers on which the company intends to focus. 3M also intends to continue investing in capital expenditures and R&D to support organic growth as it aims a prudent capital structure strategy and increased capital deployment. 3M has outperformed the industry in the past three months. However, high pension expenses continue to be a drag on the company’s bottom line. Adverse foreign currency translations are likely to affect the company’s ability to realize projected growth rates in its sales and earnings. Also, as exports are a significant part of the company’s operations and growth prospects, sustained strength in U.S. dollar will continue to negatively impact the company’s earnings in the short-term.”
  • 1/18/2018 – 3M had its “underweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $221.00 price target on the stock, up previously from $208.00.
  • 1/16/2018 – 3M had its price target raised by analysts at Citigroup Inc from $268.00 to $278.00. They now have a “buy” rating on the stock.
  • 1/15/2018 – 3M was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $271.00 price target on the stock. According to Zacks, “3M's global footprint, diversified product portfolio and the ability to penetrate in different markets have been its forte. Moreover, 3M is continuing with its portfolio restructuring efforts by divesting assets that no longer fit in its strategy and continues to make investments in other lucrative markets. Portfolio management, investment in innovation and business transformation are the three key levers on which 3M intends to focus. 3M also intends to continue investing in capital expenditures and R&D to support organic growth as it aims a prudent capital structure strategy and increased capital deployment. Furthermore, 3M is standardizing its business processes through a new, global ERP system and expects to save $500 to $700 million annually by 2020. 3M has outperformed the industry in the past three months. However, high pension expenses continue to be a drag on the company’s bottom line.”
  • 1/10/2018 – 3M had its price target raised by analysts at Deutsche Bank AG from $180.00 to $240.00. They now have a “hold” rating on the stock.
  • 1/10/2018 – 3M was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “3M's global footprint, diversified product portfolio and the ability to penetrate in different markets have been its forte. Moreover, 3M is continuing with its portfolio restructuring efforts by divesting assets that no longer fit in its strategy and continues to make investments in other lucrative markets. Portfolio management, investment in innovation and business transformation are the three key levers on which 3M intends to focus. 3M has also outperformed the industry in the past three months. However, adverse foreign currency translations are likely to affect 3M’s ability to realize projected growth rates in sales and earnings. 3M is also facing increased pension expenses as its workforce begins to retire. The related extra costs are a drag on the company’s bottom line. In addition, as exports form a significant part of operations, sustained strength in U.S. dollar will continue to negatively impact earnings.”
  • 1/4/2018 – 3M was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $264.00 price target on the stock. According to Zacks, “3M's global footprint, diversified product portfolio and the ability to penetrate in different markets have been its forte. 3M continues to deliver sustainable increase in earnings and free cash flow, benefiting from its long-term strategy of accelerating investment in high-growth programs. The company’s ability to convert high R&D spends into up-cycle market share gains and strong pricing powers determine its success. 3M is also continuing with its portfolio restructuring efforts by divesting assets that no longer fit in its strategy and continues to make investments in other lucrative markets. Portfolio management, investment in innovation and business transformation are the three key levers on which 3M intends to focus. 3M has outperformed the industry in the past three months. However, adverse foreign currency translations are likely to affect 3M’s ability to realize projected growth rates in sales and earnings.”
  • 1/3/2018 – 3M was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “3M's global footprint, diversified product portfolio and the ability to penetrate in different markets have been its forte. At the same time, the company is continuing with its portfolio restructuring efforts by divesting assets that no longer fit in its strategy and continues to make investments in other lucrative markets. Portfolio management, investment in innovation and business transformation are the three key levers on which 3M intends to focus. 3M has outperformed the industry in the past three months. However, given its international presence, adverse foreign currency translations are likely to affect 3M’s ability to realize projected growth rates in sales and earnings. 3M is also facing increased pension expenses as its workforce begins to retire. The related extra costs are a drag on the bottom line. Sustained dollar strength remains another headwind as exports consume a significant part of the company’s operations.”
  • 12/22/2017 – 3M had its “buy” rating reaffirmed by analysts at Argus.

3M Co (NYSE:MMM) opened at $225.21 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $134,112.56, a PE ratio of 28.44, a price-to-earnings-growth ratio of 2.09 and a beta of 1.08. 3M Co has a twelve month low of $178.19 and a twelve month high of $259.77.

3M (NYSE:MMM) last posted its earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. The business had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 EPS. equities research analysts expect that 3M Co will post 10.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. 3M’s payout ratio is presently 59.34%.

In other 3M news, VP Ippocratis Vrohidis sold 225 shares of 3M stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $249.68, for a total transaction of $56,178.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Inge G. Thulin sold 35,236 shares of 3M stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $251.14, for a total value of $8,849,169.04. Following the transaction, the chairman now directly owns 253,873 shares of the company’s stock, valued at approximately $63,757,665.22. The disclosure for this sale can be found here. Insiders have sold a total of 49,673 shares of company stock valued at $12,420,577 in the last ninety days. Insiders own 0.58% of the company’s stock.

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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