Analysts Estimate Report : What to Look Out for 3M (NYSE:MMM)

Earnings results for 3M (NYSE:MMM)

3M Company is expected* to report earnings on 04/27/2021 before market open. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 6 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.25. The reported EPS for the same quarter last year was $2.16.

3M last posted its quarterly earnings results on January 25th, 2021. The conglomerate reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The company earned $8.58 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Its revenue for the quarter was up 5.8% on a year-over-year basis. 3M has generated $9.10 earnings per share over the last year and currently has a price-to-earnings ratio of 23.4. 3M has confirmed that its next quarterly earnings report will be published on Tuesday, April 27th, 2021.

Analyst Opinion on 3M (NYSE:MMM)

11 Wall Street analysts have issued ratings and price targets for 3M in the last 12 months. Their average twelve-month price target is $184.80, predicting that the stock has a possible downside of 7.43%. The high price target for MMM is $205.00 and the low price target for MMM is $163.00. There are currently 2 sell ratings, 6 hold ratings and 3 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 2.09, and is based on 3 buy ratings, 6 hold ratings, and 2 sell ratings. According to analysts’ consensus price target of $184.80, 3M has a forecasted downside of 7.4% from its current price of $199.63. 3M has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: 3M (NYSE:MMM)

3M pays a meaningful dividend of 2.93%, higher than the bottom 25% of all stocks that pay dividends. 3M has been increasing its dividend for 59 years. The dividend payout ratio of 3M is 65.05%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, 3M will have a dividend payout ratio of 62.32% 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 $5,614,946.00 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 23.40, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 24.19. The P/E ratio of 3M is 23.40, 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 39.77. 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 11.34. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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