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Company Update (NYSE:MMM): 3M Honors Legacy of Research and Discovery

[Business Wire] – Science-based 3M announced today the name of its newly unveiled research and development laboratory. As the 3M Carlton Science Center sets its sights on new ways to innovate and solve challenges around the world, it also recognizes a company scientist who pioneered 3M’s ability to collaborate to develop solutions for customers. Read more on this. 3M Company (MMM) , with a current value of $100.39B, began trading this morning at $164.93. Looking at today’s trading action, the company’s one day range from $164.58 to $165.82 with a trailing 52-week range being $134.00 to $167.70. MMM shares are currently priced at 20.01x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.04x earnings multiple. The company pays shareholders $4.44 per share annually in dividends, yielding 2.70%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $1.93 per share, which would be $0.08 better than the year-ago quarter and a $0.02 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $8.22 would be a $0.64 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.34 Billion. If reported, that would be a 3.17% decrease over the year-ago quarter. In terms of ratings, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. When considering if the stock is under or overvalued, the average price target is $158.31, which is 4.01% below where the stock opened this morning. See more in (NYSE:MMM) Similar Articles: Market Update: 3M Company (NYSE:MMM) – 3M Joins Forces of its Personal Safety Division and Capital Safety Business at World of Concrete Market Update: 3M Company (NYSE:MMM) – 3M Showcases Science on Display at CES 2016 Company Update (NYSE:MMM): 3M Named a 2015 Top 100 Global Innovator by Thompson Reuters
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