3M Company (MMM) Receives $201.72 Average Target Price from Analysts
3M Company (NYSE:MMM) has earned a consensus rating of “Hold” from the sixteen research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $201.12.
Several equities analysts have recently issued reports on MMM shares. Citigroup Inc. restated a “buy” rating and set a $229.00 target price (up from $220.00) on shares of 3M in a research report on Saturday, June 3rd. BidaskClub lowered 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Credit Suisse Group reiterated a “buy” rating on shares of 3M in a research report on Thursday, April 27th. Morgan Stanley reiterated an “underweight” rating and issued a $191.00 price objective (down from $193.00) on shares of 3M in a research report on Monday, July 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $210.00 price objective on shares of 3M in a research report on Friday, July 28th.
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3M (NYSE MMM) opened at 207.44 on Monday. The firm has a market cap of $123.79 billion, a PE ratio of 23.66 and a beta of 1.08. 3M has a 12 month low of $163.85 and a 12 month high of $214.57. The firm’s 50-day moving average is $209.15 and its 200-day moving average is $195.17.
3M (NYSE:MMM) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by $0.01. The company had revenue of $7.81 billion for the quarter, compared to analyst estimates of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. 3M’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Equities analysts expect that 3M will post $8.94 earnings per share for the current year.
In other 3M news, insider James L. Bauman sold 14,616 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $195.81, for a total value of $2,861,958.96. Following the transaction, the insider now directly owns 16,458 shares of the company’s stock, valued at approximately $3,222,640.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $194.88, for a total value of $2,877,598.08. Following the completion of the transaction, the vice president now directly owns 24,480 shares in the company, valued at $4,770,662.40. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MMM. Cable Hill Partners LLC raised its position in shares of 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock worth $122,000 after buying an additional 15 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock valued at $123,000 after buying an additional 24 shares during the period. Jackson Grant Investment Advisers Inc. raised its stake in 3M by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 714 shares of the conglomerate’s stock valued at $128,000 after buying an additional 4 shares during the period. Proficio Capital Partners LLC raised its stake in 3M by 156.0% in the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after buying an additional 404 shares during the period. Finally, Israel Discount Bank of New York GFN bought a new stake in 3M during the fourth quarter valued at about $145,000. 65.80% of the stock is currently owned by hedge funds and other institutional investors.
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, electronics, 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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