3M (MMM) Set to Announce Earnings on Tuesday

3M (NYSE:MMM) is set to announce its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $2.08 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

3M Price Performance

Shares of MMM opened at $91.83 on Friday. 3M has a 12-month low of $71.12 and a 12-month high of $95.67. The business’s fifty day moving average is $95.71 and its 200 day moving average is $97.41. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The stock has a market cap of $50.82 billion, a P/E ratio of -7.27, a P/E/G ratio of 1.73 and a beta of 1.02.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a $1.51 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio is presently -47.82%.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on MMM. Mizuho reissued a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Barclays lowered their price target on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Royal Bank of Canada lowered their price target on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Bank of America lowered their price target on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Finally, Citigroup increased their price target on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $104.00.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company's 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.