3M (NYSE:MMM) Expected to Announce Quarterly Sales of $8.85 Billion

Equities research analysts predict that 3M (NYSE:MMMGet Rating) will post sales of $8.85 billion for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for 3M’s earnings, with the highest sales estimate coming in at $8.96 billion and the lowest estimate coming in at $8.78 billion. 3M posted sales of $8.95 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that 3M will report full year sales of $35.93 billion for the current fiscal year, with estimates ranging from $35.70 billion to $36.25 billion. For the next year, analysts forecast that the firm will post sales of $36.93 billion, with estimates ranging from $36.80 billion to $37.11 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for 3M.

3M (NYSE:MMMGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The conglomerate reported $2.65 EPS for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.34. The company had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.75 billion. 3M had a net margin of 15.84% and a return on equity of 39.35%. 3M’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.77 EPS.

MMM has been the topic of a number of research reports. Jefferies Financial Group cut their target price on shares of 3M from $186.00 to $161.00 and set a “hold” rating on the stock in a research note on Tuesday, March 15th. Wells Fargo & Company dropped their target price on 3M from $184.00 to $173.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 15th. StockNews.com began coverage on 3M in a report on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho dropped their price objective on shares of 3M from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 15th. Finally, Barclays decreased their target price on shares of 3M from $155.00 to $146.00 and set an “underweight” rating for the company in a research note on Wednesday, April 27th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $164.73.

A number of large investors have recently added to or reduced their stakes in MMM. Landmark Wealth Management LLC acquired a new stake in 3M in the first quarter worth about $25,000. DB Fitzpatrick & Co Inc acquired a new position in shares of 3M during the fourth quarter valued at approximately $29,000. Ritter Daniher Financial Advisory LLC raised its holdings in 3M by 98.9% during the fourth quarter. Ritter Daniher Financial Advisory LLC now owns 179 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 89 shares in the last quarter. US Asset Management LLC acquired a new stake in 3M in the first quarter worth approximately $34,000. Finally, First Quadrant LLC CA acquired a new stake in shares of 3M in the first quarter valued at $34,000. Institutional investors and hedge funds own 67.22% of the company’s stock.

Shares of MMM stock opened at $145.91 on Tuesday. The company has a market capitalization of $83.05 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.40 and a beta of 0.97. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.99. 3M has a twelve month low of $139.74 and a twelve month high of $208.95. The firm has a 50-day moving average price of $147.64 and a 200 day moving average price of $164.78.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 12th. Investors of record on Friday, February 18th were paid a dividend of $1.49 per share. This is a positive change from 3M’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, February 17th. This represents a $5.96 annualized dividend and a yield of 4.08%. 3M’s dividend payout ratio is 62.02%.

3M Company Profile (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

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Earnings History and Estimates for 3M (NYSE:MMM)

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