3 Stocks in Focus: 3M Company (MMM), Norfolk Southern Corporation (NSC), Pinnacle Financial Partners, Inc. (PNFP)

3M Company (MMM) fell -1.42% during last trading as the stock lost $-2.54 to finish the day at $175.97 with about 3.46M shares changing hands, compared to its three month average trading volume of 1.94M. The $105.95B market cap company, which fluctuated between $174.42 and $177.76 during the day, currently situated 31.38% above its 52 week low of $144.05 and -2.51% away from its one year high of $182.27. The RSI of 43.93 indicates the stock is neither overvalued nor undervalued at the current levels, hold for now.

3M Company operates as a diversified technology company worldwide. The company’s 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 company’s 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 company’s Consumer segment offers sponges, scouring pads, high-performance cloths, consumer and office tapes, repositionable notes, indexing systems, and consumer and office tapes and adhesives, as well as construction and home improvement, home care, and protective material products. 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.

Norfolk Southern Corporation (NSC) gained $3.07 to close the day at a new closing price of $116.62, a 2.7% increase in value from its previous closing price that moved the stock 84.39% above its 52 week low of $64.51. A total of 3.46M shares exchanged hands during the day compared with its three month average trading volume of 1.98M. The stock, which fluctuated between $113.3 and $117.09 during the day, currently situated 0.53% above its 52 week high. The stock is up by 7.93% in the past one month and up by 26.32% over the past three months. With a one year target estimate of $110.54 and RSI of 69.02, the stock still has upside potential, making it a hold for now.

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports; provides logistics services; and operates scheduled passenger trains. In addition, the company engages in the acquisition, leasing, and management of coal, oil, gas, and minerals; development of commercial real estate; telecommunications; and leasing or sale of rail property and equipment. As of March 1, 2016, it operated approximately 20,000 miles of road in 22 states and the District of Columbia. The company was founded in 1883 and is based in Norfolk, Virginia.

Pinnacle Financial Partners, Inc. (PNFP) had a active trading with around 3.46M shares changing hands compared to its three month average trading volume of 245.42K. The stock traded between $63.7 and $67.85 before closing at the price of $67.35 with 4.82% change on the day. The Nashville Tennessee 37201 based company is currently trading 56.78% above its 52 week low of $43.32 and -6.26% below its 52 week high of $71.85. Both the RSI indicator and target price of 51.32 and $65.75 respectively, lead us to believe that it should be put on hold over the coming weeks.

Pinnacle Financial Partners, Inc. operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts. Its loan products include commercial loans, such as equipment and working capital loans; commercial real estate loans comprising investment properties and business loans secured by real estate; and loans to individuals consisting of secured and unsecured installment and term loans and lines of credit, residential first mortgage loans, and home equity loans and lines of credit. The company also offers various securities and other financial products; investment products; brokerage and investment advisory programs; and fiduciary and investment management services, such as personal trust, endowments, foundations, individual retirement accounts, pensions, and custody. In addition, it provides insurance products primarily in the property and casualty area; merger and acquisition advisory services; and private debt, equity and mezzanine, interest rate derivatives, and other middle-market advisory services. Further, the company offers telephone and online banking, mobile banking, debit and credit cards, direct and remote deposit, and cash management services. It serves individuals, small-to medium-sized businesses, and professional entities. The company operates 44 banking locations in the Tennessee municipalities of Nashville, Knoxville, Memphis, Chattanooga, Murfreesboro, Dickson, Ashland City, Mt. Juliet, Lebanon, Franklin, Brentwood, Hendersonville, Goodlettsville, Smyrna, Shelbyville, Cleveland, and Oak Ridge. Pinnacle Financial Partners, Inc. was founded in 2000 and is headquartered in Nashville, Tennessee.

 

Analyst Activity: Pinnacle Financial Partners Inc. (PNFP)

The shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) currently has mean rating of 2.22 while 2 analysts have recommended the shares as “BUY”, 3 recommended as “OUTPERFORM” and 4 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.

The company’s mean estimate for sales for the current quarter ending Jun 16 is 104.18M by 6 analysts. The means estimate of sales for the year ending Dec-16 is 444.36M by 6 analysts.

The mean price target for the shares of Pinnacle Financial Partners Inc. (PNFP) is at 55.50 while the highest price target suggested by the analysts is 59.00 and low price target is 51.00. The mean price target is calculated keeping in view the consensus of 8 brokerage firms.

The average estimate of EPS for the current fiscal quarter for Pinnacle Financial Partners Inc. (PNFP) stands at 0.75 while the EPS for the current year is fixed at 3.05 by 6 analysts.

The next one year’s EPS estimate is set at 3.54 by 8 analysts while a year ago the analysts suggested the company’s EPS at 3.05. The analysts also projected the company’s long-term growth at 15.00% for the upcoming five years.

In its latest quarter ended on 31st March 2016, Pinnacle Financial Partners Inc. (PNFP) reported earnings of $0.68. The posted earnings missed the analyst’s consensus by $-0.03 with the surprise factor of -4.20%. 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.

On June 21, 2016 Avenue Financial Holdings, Inc. (AVNU) announced that its shareholders approved the proposed merger with Pinnacle Financial Partners Inc. (PNFP) at its special shareholders’ meeting held. Subject to the satisfaction of the remaining closing conditions contained in the merger agreement between Avenue Financial and Pinnacle, the merger is expected to close on or about July 1, 2016.

In comments made at the meeting, Ronald L. Samuels, Chairman and Chief Executive Officer, stated, “Avenue Financial’s shareholders overwhelmingly approved the merger with Pinnacle Financial Partners. We are very excited about our proposed merger with Pinnacle and realizing our goals of building shareholder value while providing our clients with a broader array of banking services than we could have as an independent company.