3M Company (NYSE:MMM) released its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by $0.01, MarketWatch Earnings reports. 3M had a net margin of 17.65% and a return on equity of 47.83%. The company had revenue of $7.81 billion during the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. 3M updated its FY17 guidance to $8.80-9.05 EPS.
Shares of 3M (MMM) opened at 205.98 on Friday. 3M has a 1-year low of $163.85 and a 1-year high of $214.57. The stock’s 50 day moving average is $207.94 and its 200 day moving average is $196.43. The company has a market capitalization of $122.92 billion, a PE ratio of 23.49 and a beta of 1.08.
Several equities research analysts recently weighed in on the stock. Morgan Stanley increased their target price on shares of 3M from $178.00 to $193.00 and gave the company an “underweight” rating in a research note on Friday, June 9th. BidaskClub cut shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research report on Monday, June 19th. Stifel Nicolaus reissued a “hold” rating and issued a $202.00 price target on shares of 3M in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $209.00 price target (down previously from $210.00) on shares of 3M in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $203.40.
In related news, VP Marlene Mary Mcgrath sold 14,766 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 24,480 shares in the company, valued at approximately $4,770,662.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.
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.
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