Market Update (NYSE:MMM): 3M Posts First-Quarter Sales of $7.4 Billion and GAAP EPS of $2.05

[Business Wire] – 3M today reported first-quarter earnings of $2.05 per share, an increase of 10.8 percent versus the first quarter of 2015. Sales declined 2.2 percent year-on-year to $7.4 billion. Read more on this. 3M Company (MMM) , with a current value of $101.12B, started the session at $167.50. Looking at today’s market, MMM one day range is $166.64 to $168.51 and has traded between $134.00 and $170.77 over the past 12 months. Priced at 20.47x this year’s forecasted earnings, MMM shares are relatively expensive compared to the industry’s 16.44x forward p/e ratio. And for income investors, the company pays shareholders $4.44 per share annually in dividends, yielding 2.63%. According to a consensus of 16 analysts, the earnings estimate of $1.92 per share would be $0.07 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $8.24 is a $0.66 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.33 Billion. If realized, that would be a 3.30% decrease over the year-ago quarter. Recently, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. The average price target for MMM shares by the analysts covering it is $167.56, which is 0.04% above where the stock opened. See more in (NYSE:MMM) Similar Articles: Market Update (NYSE:HON): Honeywell Reports First Quarter 2016 Sales Of $9.5 Billion; Earnings Up 9% To $1.53 Per Share Market Update: 3M Company (NYSE:MMM) – 3M to Sell Pressurized Polyurethane Foam Adhesives Business Market Update: 3M Company (NYSE:MMM) – 3M Showcases Science on Display at CES 2016
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.