What to Expect From 3M Earnings

Industrials

Published: April 25, 2016 2:05 pm

Last Updated: January 13, 2020 10:20 am

3M Co. (NYSE: MMM) is scheduled to report its first-quarter financial results before the markets open on Tuesday. Consensus estimates from Thomson Reuters are calling for $1.92 in earnings per share (EPS) on revenue of $7.33 billion. In the same period of last year, 3M posted EPS of $1.85 and $7.58 billion in revenue.

This is a top industrial that could really jump with an economic pickup. 3M is a diversified, global manufacturer. Its businesses are technology-driven and organized under five segments: Consumer, Safety and Graphics, Electronics and Energy, Healthcare, and Industrial. Its popular brands include Scotch, Post-It, 3M and Thinsulate. The company also holds over 500 U.S. patents.

The company crushed earnings expectations for the fourth quarter and rallied huge. Top Wall Street analysts commented that the execution at the company remains outstanding, and there was strength in consumer and health care across all the company’s regions. With margins expanding this remains an outstanding stock to own.

We recently covered the highlights of the company’s analysts day, from which many on Wall Street came away with renewed confidence in the blue chip stalwart. The stock has had a huge run, so there may have been some sell-the-news action.

Ahead of the earnings report a few analysts weighed in on 3M:

Jefferies reiterated a Buy rating and raised its price target to $190 from $187.
Bernstein raised its price target to $170 from $160.
Morgan Stanley raised its price target from $146 to $157.
UBS has a Buy rating and raised its price target to $190 from $175.
Merrill Lynch reiterated a Buy rating with a $178 price target.

So far in 2016, 3M has been one of the top performing Dow Stocks, with shares up about 13%. Over the past 52 weeks, the stock is up only about 9%.

Shares of 3M were trading at $168.14 on Monday, with a consensus analyst price target of $167.56 and a 52-week trading range of $134.00 to $170.77.

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