Why 3M Company [MMM] Stock Can Run Back to New Highs Quicker Than You Think

3M Company [MMM] shares are up more than 2.81% this year and recently decreased -0.0% or -$0.02 to settle at $171.83. Analysts expect MMM to grow earnings at a 3.66% annual rate over the next 5 years. MMM has a short ratio of 2.89. This implies that the market is currently less bullish on the outlook for MMM.

On 3, December 2020, 3M to Advance Operating Model, Improve Cost Structure, and Accelerate Innovation. According to news published on Yahoo Finance, Enhanced operations and marketing capabilities position company to better capitalize on global trends.

Analyst Birdseye View:

The most recent analyst activity for 3M Company [NYSE:MMM] stock was on March 30, 2020, when it was Downgrade with an Underperform rating from Gordon Haskett. Before that, on October 07, 2020, Gordon Haskett Recapitulated a Hold rating and elevated its amount target to $170. On January 09, 2020, Wolfe Research Upgrade a Peer perform rating. On December 23, 2019, JP Morgan Upgrade a Neutral rating and increased its price target from $143 to $150. On December 12, 2019, UBS Downgrade a Sell rating and decreased its price target to $160. On December 09, 2019, Citigroup Downgrade a Neutral rating and boosted its amount on this stock to $180. On October 03, 2019, Barclays Reiterated an Underweight rating and decreased its target amount on this stock from $162 to $158. On July 12, 2019, UBS Reiterated a Neutral rating and amplified its amount target to $182.

In the past 52 weeks of trading, this stock has oscillated between a low of $114.04 and a peak of $182.54. Right now, according to Wall Street analyst the average 12-month amount target is $181.60. At the most recent market close, shares of 3M Company [NYSE:MMM] were valued at $171.83. According to the average price forecast, investors can expect a potential return of 3.64%.

FUNDAMENTAL ANALYSIS

3M Company [NYSE:MMM] most recently reported quarterly sales of 8.35 billion, which represented growth of 4.50%. This publicly-traded organization’s revenue is $334,183 per employee, while its income is $47,523 per employee. This company’s Gross Margin is currently 48.10%, its Operating Margin is 20.90%, its Pretax Margin is +17.77, and its Net Margin is +14.22. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 11.26, 46.02, 24.92 and 17.72 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 67.91 and the whole liability to whole assets at 47.69. It shows enduring liability to the whole principal at 58.15 and enduring liability to assets at 0.41 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 170.78 points at 1st support level, the second support level is making up to 169.74. But as of 1st resistance point, this stock is sitting at 173.13 and at 174.44 for 2nd resistance point.

3M Company [MMM] reported its earnings at $2.43 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at $2.26/share signifying the difference of 0.17 and 7.50% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were $1.78 calling estimates for $1.8/share with the difference of -0.02 depicting the surprise of -1.10%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for 3M Company [NYSE:MMM] is 1.90. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.32. Now if looking for a valuation of this stock’s amount to sales ratio it’s 3.21, it’s amount to book ratio is 10.08 and showing 20.14 of P/E (TTM) ratio.

Insider Stories

The most recent insider trade was by Fong Ivan K, SVP, Gen Counsel & Secretary, and it was the sale of 15073.0 shares on Nov 16. Banovetz John Patrick, the Senior Vice President, completed a sale of 2228.0 shares on Aug 19. On May 08, Vale Michael G., Executive Vice President, completed a sale of 14062.0 shares.