Analysts at Mizuho assumed coverage on shares of 3M (NYSE:MMM) in a report issued on Thursday, Price Targets.com reports. The firm set a “neutral” rating and a $180.00 price target on the conglomerate’s stock. Mizuho’s price target points to a potential upside of 3.00% from the company’s current price.
A number of other research analysts have also weighed in on MMM. Wells Fargo & Company raised their target price on shares of 3M from $179.00 to $180.00 and gave the company an “equal weight” rating in a report on Wednesday, October 27th. Deutsche Bank Aktiengesellschaft decreased their target price on 3M from $192.00 to $182.00 and set a “hold” rating for the company in a research report on Friday, December 10th. Credit Suisse Group decreased their price objective on 3M from $201.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays cut their target price on 3M from $185.00 to $182.00 and set an “underweight” rating on the stock in a research note on Monday, October 4th. Finally, Langenberg & Company upgraded 3M from a “hold” rating to a “buy” rating in a research note on Monday, October 11th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, 3M presently has an average rating of “Hold” and a consensus price target of $192.93.
MMM opened at $174.75 on Thursday. The firm has a 50 day moving average price of $178.72 and a 200-day moving average price of $188.72. 3M has a twelve month low of $163.38 and a twelve month high of $208.95. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $101.12 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.89 and a beta of 0.96.
3M (NYSE:MMM) last released its earnings results on Monday, October 25th. The conglomerate reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.24. The company had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. 3M had a net margin of 16.90% and a return on equity of 42.80%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.43 EPS. As a group, analysts expect that 3M will post 9.87 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Founders Financial Alliance LLC increased its holdings in shares of 3M by 2.9% in the second quarter. Founders Financial Alliance LLC now owns 1,756 shares of the conglomerate’s stock valued at $350,000 after purchasing an additional 50 shares in the last quarter. Bar Harbor Trust Services grew its holdings in 3M by 0.7% during the 2nd quarter. Bar Harbor Trust Services now owns 7,141 shares of the conglomerate’s stock worth $1,419,000 after acquiring an additional 50 shares during the period. Westhampton Capital LLC grew its holdings in 3M by 0.3% during the 2nd quarter. Westhampton Capital LLC now owns 16,811 shares of the conglomerate’s stock worth $3,339,000 after acquiring an additional 51 shares during the period. Twin Lakes Capital Management LLC boosted its position in shares of 3M by 2.4% during the second quarter. Twin Lakes Capital Management LLC now owns 2,259 shares of the conglomerate’s stock worth $449,000 after purchasing an additional 54 shares in the last quarter. Finally, ProVise Management Group LLC boosted its position in shares of 3M by 0.3% during the second quarter. ProVise Management Group LLC now owns 21,775 shares of the conglomerate’s stock worth $4,325,000 after purchasing an additional 55 shares in the last quarter. 66.73% of the stock is owned by institutional investors and hedge funds.
3M Company Profile
3M Co is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.
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