3M Co (NYSE:MMM) – Equities research analysts at Jefferies Financial Group issued their Q1 2019 earnings per share (EPS) estimates for 3M in a report released on Monday, March 18th. Jefferies Financial Group analyst L. Alexander forecasts that the conglomerate will earn $2.52 per share for the quarter. Jefferies Financial Group also issued estimates for 3M’s Q2 2019 earnings at $2.70 EPS, Q3 2019 earnings at $2.73 EPS and Q4 2019 earnings at $2.50 EPS.
3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.03. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $7.87 billion. 3M had a net margin of 16.33% and a return on equity of 57.70%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 EPS.
Several other analysts also recently weighed in on the stock. restated a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Barclays reduced their price target on shares of 3M from $190.00 to $189.00 and set an “underweight” rating for the company in a research report on Thursday, January 3rd. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 price target (down previously from $230.00) on shares of 3M in a research report on Thursday, January 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $213.00 price target on shares of 3M in a research report on Wednesday, December 19th. Finally, Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $214.57.
Shares of NYSE:MMM opened at $209.02 on Wednesday. The company has a market cap of $120.05 billion, a PE ratio of 19.98, a P/E/G ratio of 1.93 and a beta of 1.06. The company has a quick ratio of 1.29, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. 3M has a twelve month low of $176.87 and a twelve month high of $237.22.
A number of hedge funds and other institutional investors have recently modified their holdings of MMM. Centric Wealth Management acquired a new stake in shares of 3M during the 4th quarter worth about $527,000. Fulcrum Equity Management acquired a new stake in shares of 3M during the 4th quarter worth about $263,000. Norges Bank purchased a new position in shares of 3M during the 4th quarter worth about $918,305,000. Actinver Wealth Management Inc. purchased a new position in shares of 3M during the 4th quarter worth about $2,197,000. Finally, Swaine & Leidel Wealth Services LLC purchased a new position in shares of 3M during the 4th quarter worth about $1,575,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider James L. Bauman sold 16,065 shares of the stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $200.24, for a total value of $3,216,855.60. Following the sale, the insider now directly owns 40,468 shares of the company’s stock, valued at approximately $8,103,312.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joaquin Delgado sold 4,897 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $207.30, for a total transaction of $1,015,148.10. Following the completion of the sale, the executive vice president now directly owns 23,191 shares in the company, valued at $4,807,494.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,551 shares of company stock worth $14,335,468. Corporate insiders own 0.72% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 15th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Thursday, February 14th. This is a boost from 3M’s previous quarterly dividend of $1.36. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.76%. 3M’s dividend payout ratio is 55.07%.
3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.
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