3M Co. [MMM] stock prices are up 6.02% to $94.02 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The MMM shares have gain 5.31% over the last week, with a monthly amount glided 22.07%, and seem to be holding up well over a long-time horizon.
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On 1, April 2024, 3M Settlement with Public Water Suppliers to Address PFAS in Drinking Water Receives Final Court Approval. In a post published today on Yahoo Finance, Agreement includes pre-tax present value commitment of up to $10.3 billion payable over 13 years.
From an analyst’s perspective:
3M Co. [NYSE: MMM] stock has seen the most recent analyst activity on March 20, 2024, when RBC Capital Mkts reiterated its Underperform rating. Previously, Barclays upgraded its rating to Overweight on March 19, 2024, and elevated its price target to $126. On December 04, 2023, upgrade upgraded it’s rating to Equal Weight and revised its price target to $107 on the stock. HSBC Securities started tracking the stock assigning a Hold rating and suggested a price target of $109 on September 15, 2023. Morgan Stanley upgraded its rating to a Equal-Weight and raised its price target to $113 on August 31, 2023. Wolfe Research upgraded its rating to Peer Perform for this stock on August 29, 2023. In a note dated July 11, 2023, BofA Securities upgraded an Neutral rating on this stock but restated the target price of $110.
The stock price of 3M Co. [MMM] has been fluctuating between $71.35 and $94.59 over the past year. Currently, Wall Street analysts expect the stock to reach $142.21 within the next 12 months. 3M Co. [NYSE: MMM] shares were valued at $94.02 at the most recent close of the market. An investor can expect a potential return of 51.26% based on the average MMM price forecast.
Analyzing the MMM fundamentals
The 3M Co. [NYSE:MMM] reported sales of 32.68B for trailing twelve months, representing a drop of -0.82%. Gross Profit Margin for this corporation currently stands at 0.43% with Operating Profit Margin at -0.28%, Pretax Profit Margin comes in at -0.3%, and Net Profit Margin reading is -0.21%. To continue investigating profitability, this company’s Return on Assets is posted at -0.14, Equity is -0.85 and Total Capital is -0.26. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of3.51.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 90.05 points at the first support level, and at 86.09 for the second support level. However, for the 1st resistance point, the stock is sitting at 96.16, and for the 2nd resistance point, it is at 98.31.
3M Co. [MMM] reported earnings per share of $2.42 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.31/share, meaning a difference of $0.11 and a surprise factor of 4.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $2.44 per share as compared to estimates of $2.14 per share, a difference of $0.3 representing a surprise of 14.00%.
Ratios To Look Out For
It’s worth pointing out that 3M Co. [NYSE:MMM]’s Current Ratio is 1.07. On the other hand, the Quick Ratio is 0.76, and the Cash Ratio is 0.39. Considering the valuation of this stock, the price to sales ratio is 1.59, the price to book ratio is 10.81.
Transactions by insiders
Recent insider trading involved Chavez Rodriguez Beatriz Karin, Group President, that happened on Feb 14 ’24 when 426.0 shares were sold. Group President, Ashish Khandpur K completed a deal on May 18 ’23 to sell 9432.0 shares. Meanwhile, EVP & Chief Count Gov Svc Off Hammes Eric D. sold 6487.0 shares on Apr 28 ’23.
