3M Co. (NYSE: MMM) is set to report its most recent quarterly results before the markets open on Tuesday. Thomson Reuters consensus estimates are calling for earnings of $2.58 per share and $8.37 billion in revenue. In the same period of last year, 3M posted $2.58 per share and $7.81 billion, respectively.
This company is right up front about its dividends, noting that it has paid its shareholders for more than 100 consecutive years, and it has now increased its annual dividend for 60 consecutive years. The conglomerate and industrial player has a total market cap of $118 billion.
In the prior quarterly report, Inge G. Thulin, 3M’s board chair, chief executive and president, commented:
Coming off a strong 2017, our team opened the new year with broad-based organic growth of three percent, with positive growth across all business groups. We also continued to invest in our commercialization capabilities, while returning significant cash to our shareholders – including a 16 percent dividend increase. Going forward we will continue to execute the 3M Playbook and leverage the world-class capabilities of our people and our enterprise, and I am confident we will deliver strong results in 2018.
Overall, 3M has underperformed the broad markets in 2018, with the stock down 14%. In the past 52 weeks, the stock is down closer to 5%.
Prior to the release of the earnings report, a few analysts weighed in on 3M:
- Deutsche Bank has a Hold rating with a $208 price target.
- Citigroup has a Buy rating with a $263 price target.
- Jefferies has a Hold rating with a $200 price target.
- UBS has a Neutral rating with a $215 price target.
Shares of 3M were last seen at $199.42, with a consensus analyst price target of $211.54 and a 52-week range of $191.44 to $259.77.
24/7 Wall St.Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
