A share price of 3M Co. [MMM] is currently trading at $93.18, up 0.59%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The MMM shares have gain 2.92% over the last week, with a monthly amount glided 12.89%, and seem to be holding up well over a long-time horizon.
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On 11, April 2024, 3M Invests in Hydrogen Electrolyzer Manufacturer EVOLOH. In a post published today on Yahoo Finance, Scaling electrolyzer manufacturing supports the hydrogen economy and helps move the planet towards a clean energy transition.
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.
3M Co. experienced fluctuations in its stock price throughout the past year between $71.35 and $95.67. Currently, Wall Street analysts expect the stock to reach $139 within the next 12 months. 3M Co. [NYSE: MMM] shares were valued at $93.18 at the most recent close of the market. An investor can expect a potential return of 49.17% based on the average MMM price forecast.
Analyzing the MMM fundamentals
Trailing Twelve Months sales for 3M Co. [NYSE:MMM] were 32.68B which represents -0.82% decline. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 3.51.
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 92.59 points at the first support level, and at 91.99 for the second support level. However, for the 1st resistance point, the stock is sitting at 93.67, and for the 2nd resistance point, it is at 94.15.
3M Co. [MMM] reported earnings per share of $2.23 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 $2.13/share, meaning a difference of $0.1 and a surprise factor of 4.70%. 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
To put it in perspective, the Current Ratio for 3M Co. [NYSE:MMM] is 1.07. Also, the Quick Ratio is 0.76, while the Cash Ratio stands at 0.39. Considering the valuation of this stock, the price to sales ratio is 1.58, the price to book ratio is 10.71.
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.
