Earnings results for 3M (NYSE:MMM)
3M Company is expected* to report earnings on 01/26/2021 before market open. The report will be for the fiscal Quarter ending Dec 2020. According to Zacks Investment Research, based on 6 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.19. The reported EPS for the same quarter last year was $1.95.
3M last released its quarterly earnings data on November 1st, 2020. The conglomerate reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.17. The company earned $8.35 billion during the quarter, compared to analysts’ expectations of $8.38 billion. Its revenue was up 4.5% compared to the same quarter last year. 3M has generated $9.10 earnings per share over the last year and currently has a price-to-earnings ratio of 20.0. 3M has confirmed that its next quarterly earnings report will be published on Tuesday, January 26th, 2021.
Analyst Opinion on 3M (NYSE:MMM)
12 Wall Street analysts have issued ratings and price targets for 3M in the last 12 months. Their average twelve-month price target is $172.18, predicting that the stock has a possible upside of 1.05%. The high price target for MMM is $197.00 and the low price target for MMM is $157.00. There are currently 2 sell ratings, 8 hold ratings and 2 buy ratings for the stock, resulting in a consensus rating of “Hold.”
3M has received a consensus rating of Hold. The company’s average rating score is 2.00, and is based on 2 buy ratings, 8 hold ratings, and 2 sell ratings. According to analysts’ consensus price target of $172.18, 3M has a forecasted upside of 1.1% from its current price of $170.39. 3M has only been the subject of 4 research reports in the past 90 days.
Dividend Strength: 3M (NYSE:MMM)
3M pays a meaningful dividend of 3.48%, higher than the bottom 25% of all stocks that pay dividends. 3M has been increasing its dividend for 57 years. The dividend payout ratio of 3M is 64.62%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, 3M will have a dividend payout ratio of 61.89% next year. This indicates that 3M will be able to sustain or increase its dividend.
Insiders buying/selling: 3M (NYSE:MMM)
In the past three months, 3M insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $4,688,423.00 in company stock. Only 0.42% of the stock of 3M is held by insiders. 64.68% of the stock of 3M is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of 3M (NYSE:MMM
Earnings for 3M are expected to grow by 10.98% in the coming year, from $8.56 to $9.50 per share. The P/E ratio of 3M is 19.98, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 24.46. The P/E ratio of 3M is 19.98, which means that it is trading at a less expensive P/E ratio than the Multi-Sector Conglomerates sector average P/E ratio of about 35.44. 3M has a PEG Ratio of 1.85. PEG Ratios above 1 indicate that a company could be overvalued. 3M has a P/B Ratio of 9.68. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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