US conglomerate 3M Co. (NYSE: MMM) today affirmed its full-year 2011 EPS guidance of $5.85-$5.95. Analysts are expecting 2011 EPS of $5.91.
At the same time the company said it would post EPS of $6.25-$6.50 in 2012 on revenue of $30.2-$31.5 billion. The company expects an operating margin of 21%-22.5% in 2012. Analysts had pencilled in a 2012 EPS estimate of $6.28 on revenue of $30.59 billion.
3M’s affirmation of its 2011 EPS guidance follows an announcement on October 25th that lowered the company’s EPS estimate from $6.10-$6.25. The company missed the third-quarter EPS estimate of $1.61 by $0.09.
With a median target price of $90, 3M shares have a potential upside of about 9% based on today’s share price about 15 minutes after the market opened. The stock posted a 52-week low of $68.63 in early October.
Shares in 3M are trading at $81.87 this morning in a 52-week range of $68.63-$98.19. Today’s announcement from 3M hasn’t moved the stock much at all. It’s now trading up about 1.2%, which is not too bad really, on a day when the market opened down slightly.
Top Gaining Stocks
Top Losing Stocks