Market Update: 3M Company (NYSE:MMM) – 3M and Nobel Media Announce International Partnership

[Business Wire] – 3M and Nobel Media today announced an international partnership, bringing together two respected organizations committed to the advancement of innovation, education and scientific research. Read more on this. 3M Company (MMM) , currently valued at $97.90B, started trading this morning at $161.14. Today, shares have traded between $160.65 and $161.89 per share with a one year range of $134.00 to $167.70. Priced at 19.45x this year’s forecasted earnings, MMM shares are relatively expensive compared to the industry’s 13.72x forward p/e ratio. And for dividend hunters, the company pays shareholders $4.44 per share annually in dividends, yielding 2.77%. According to a consensus of 16 analysts, the earnings estimate of $1.93 per share would be $0.08 better than the year-ago quarter and a $0.09 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $8.22, which would be a $0.64 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.35 Billion. If reported, that would be a 3.03% decrease over the year-ago quarter. Recently, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. With the above information in mind, readers should note that the average price target is $157.81, which is 2.07% below where the stock opened this morning. See more in (NYSE:MMM) Similar Articles: Company Update: 3M Company (NYSE:MMM) – 3M and Festool Announce Strategic Collaboration to Serve Automotive Collision Repair Industry Company Update: 3M Company (NYSE:MMM) – 3M Company and 3M United Kingdom PLC Announce Resolution of Environmental Lawsuit Related to Fire Fighting Foams Market Update: 3M Company (NYSE:MMM) – 3M to Sell Pressurized Polyurethane Foam Adhesives Business