3M Company (NYSE:MMM) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $8.80-9.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.98.
Shares of 3M Company (MMM) traded down 0.12% during midday trading on Friday, hitting $205.98. 1,452,811 shares of the company traded hands. The stock’s 50-day moving average is $207.94 and its 200 day moving average is $196.43. 3M Company has a 12-month low of $163.85 and a 12-month high of $214.57. The stock has a market capitalization of $122.92 billion, a P/E ratio of 23.49 and a beta of 1.08.
3M (NYSE:MMM) last released its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing the Zacks’ consensus estimate of $2.59 by $0.01. The business had revenue of $7.81 billion for 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 earned $2.08 earnings per share. On average, analysts expect that 3M Company will post $8.94 earnings per share for the current year.
MMM has been the topic of a number of research reports. Citigroup Inc. reaffirmed a buy rating and set a $229.00 target price (up previously from $220.00) on shares of 3M in a report on Saturday, June 3rd. BidaskClub lowered 3M from a buy rating to a hold rating in a report on Monday, July 24th. Credit Suisse Group reaffirmed a buy rating on shares of 3M in a report on Thursday, April 27th. Morgan Stanley reaffirmed an underweight rating and set a $191.00 target price (down previously from $193.00) on shares of 3M in a report on Monday, July 10th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $210.00 target price on shares of 3M in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target 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 stock was 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 owns 24,480 shares in the company, valued at $4,770,662.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece of content was first reported by Stock Observer and is the sole property of of Stock Observer. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.thestockobserver.com/2017/08/12/3m-company-nysemmm-releases-fy17-earnings-guidance-updated-updated.html.
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.
Receive News & Ratings for 3M Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Company and related companies with MarketBeat.com's FREE daily email newsletter.