Analysts are weighing in on how 3M Co (NYSE:MMM), might perform in the near term. Wall Street analysts have a much less favorable assessment of the stock, with a mean rating of 2.5. The stock is rated as buy by 3 analysts, with 4 outperform and 9 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.
For the current quarter, the 16.00 analysts offering adjusted EPS forecast have a consensus estimate of $2.07 a share, which would compare with $2.02 in the same quarter last year. They have a high estimate of $2.12 and a low estimate of $2.01. Revenue for the period is expected to total nearly $7.73B from $7.69B the year-ago period.
For the full year, 18.00 Wall Street analysts forecast this company would deliver earnings of 8.25 per share, with a high estimate of $8.35 and a low estimate of $8.10. It had reported earnings per share of $7.58 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $30.44B versus 30.27B in the preceding year.
The analysts project the company to maintain annual growth of around 8.47% percent over the next five years as compared to an average growth rate of 19.49% percent expected for its competitors in the same industry.
Among the 15 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for MMM is $172.00 but some analysts are projecting the price to go as high as $191.00. If the optimistic analysts are correct, that represents a 10 percent upside potential from the recent closing price of $174.11. Some sell-side analysts, particularly the bearish ones, have called for $143.00 price targets on shares of 3M Co (NYSE:MMM).
In the last reported results, the company reported earnings of $2.02 per share, while analysts were calling for share earnings of $2.00. It was an earnings surprise of 1.00%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
3M Company operates as a diversified technology company worldwide. The companys Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; filtration products; closure systems for personal hygiene products; acoustic systems products; automotive components; abrasion-resistant films; structural adhesives; and paint finishing and detailing products. Its Safety and Graphics segment provides personal protection products, traffic safety and security products, commercial graphics systems, commercial cleaning and protection products, floor matting, roofing granules, and fall protection products. The companys Health Care segment offers medical and surgical supplies, skin health and infection prevention products, drug delivery systems, dental and orthodontic products, health information systems, and food safety products. Its Electronics and Energy segment provides optical films; packaging and interconnection devices; insulating and splicing solutions; touch screens and touch monitors; renewable energy component solutions; and infrastructure protection products. The companys Consumer segment offers sponges, scouring pads, high-performance cloths, consumer and office tapes, repositionable notes, indexing systems, construction and home improvement products, home care products, protective material products, and consumer and office tapes and adhesives. 3M Company serves automotive, electronics and energy, appliance, paper and printing, packaging, food and beverage, construction, clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, health information systems, food manufacturing and testing, consumer and office retail, home improvement, drug and pharmacy retail, and other markets. The company sells its products through wholesalers, retailers, jobbers, distributors, and dealers, as well as directly to users. 3M Company was founded in 1902 and is headquartered in St. Paul, Minnesota.