Wall Street analysts expect that 3M Co (NYSE:MMM) will announce $2.53 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for 3M’s earnings. The highest EPS estimate is $2.57 and the lowest is $2.42. 3M reported earnings per share of $2.16 during the same quarter last year, which would indicate a positive year over year growth rate of 17.1%. The company is scheduled to issue its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that 3M will report full-year earnings of $10.59 per share for the current fiscal year, with EPS estimates ranging from $10.35 to $10.70. For the next fiscal year, analysts forecast that the firm will report earnings of $11.70 per share, with EPS estimates ranging from $11.40 to $12.50. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover 3M.
3M (NYSE:MMM) last issued its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The business had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis.
In related news, EVP Frank R. Jr. Little sold 3,133 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $236.85, for a total value of $742,051.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nicholas C. Gangestad sold 1,681 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $249.76, for a total transaction of $419,846.56. Following the completion of the sale, the chief financial officer now owns 23,562 shares in the company, valued at approximately $5,884,845.12. The disclosure for this sale can be found here. Insiders sold 52,806 shares of company stock worth $13,162,628 in the last 90 days. 0.58% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Alpha Windward LLC increased its position in 3M by 16.5% during the fourth quarter. Alpha Windward LLC now owns 1,441 shares of the conglomerate’s stock valued at $339,000 after acquiring an additional 204 shares during the last quarter. Canal Capital Management LLC increased its position in 3M by 3.2% during the fourth quarter. Canal Capital Management LLC now owns 7,101 shares of the conglomerate’s stock valued at $1,671,000 after acquiring an additional 221 shares during the last quarter. ARGI Investment Services LLC increased its position in 3M by 6.8% during the third quarter. ARGI Investment Services LLC now owns 3,579 shares of the conglomerate’s stock valued at $736,000 after acquiring an additional 227 shares during the last quarter. Weatherstone Capital Management increased its position in 3M by 10.3% during the fourth quarter. Weatherstone Capital Management now owns 2,433 shares of the conglomerate’s stock valued at $573,000 after acquiring an additional 227 shares during the last quarter. Finally, Cadence Bank NA increased its position in 3M by 1.6% during the fourth quarter. Cadence Bank NA now owns 15,368 shares of the conglomerate’s stock valued at $3,617,000 after acquiring an additional 237 shares during the last quarter. Institutional investors and hedge funds own 66.89% of the company’s stock.
3M (NYSE:MMM) traded down $1.55 during mid-day trading on Monday, hitting $239.80. 2,151,266 shares of the stock traded hands, compared to its average volume of 2,890,000. 3M has a 1 year low of $188.62 and a 1 year high of $259.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33. The stock has a market capitalization of $142,800.00, a P/E ratio of 26.15, a PEG ratio of 2.24 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.27%. The ex-dividend date is Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $0.01. 3M’s payout ratio is currently 59.32%.
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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