3M (MMM) Scheduled to Post 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 are interested in registering for the company’s conference call can do so using this link.

3M Price Performance

MMM stock opened at $91.83 on Monday. The business has a 50 day moving average price of $95.71 and a 200 day moving average price of $97.46. The stock has a market cap of $50.82 billion, a price-to-earnings ratio of -7.27, a PEG ratio of 1.74 and a beta of 1.02. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a dividend of $1.51 per share. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a yield of 6.58%. 3M’s payout ratio is presently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s 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 sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MMM. Royal Bank of Canada reduced their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. Barclays reduced their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Citigroup boosted their price objective on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Bank of America reduced their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. Finally, Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 3M presently has an average rating of “Hold” and an average price target 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.