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Stock in Focus: 3M Co (NYSE:MMM) boosts dividend by 20%

December 16
12:02 2014

Stock in Focus: 3M Co (NYSE:MMM)(Trend Analysis)

3M Co (NYSE:MMM) has proposed to boost dividend by 20% at the 2015 outlook meeting in New York City. The company sees a Full-Year 2015 Earning-per-share (EPS) in the $8.00-8.30 range $8.00-8.30 against analyst estimate of $8.21.

Speaking at the conference, 3M Chairman, President and CEO Inge G. Thulin has said :
“The strength of 3M’s business model, including the ingenuity of our scientists, continues to generate premium and sustainable value for both our customers and shareholders,…We are delivering strong results quarter to quarter, and remain on track to meet our long-term financial targets.”

Webcast: Go to 3M’s Investor Relations website at http://investor.3M.com and click on “3M 2015 Outlook Meeting.”

Stock Performance: Click here for a free comprehensive Trend Analysis Report

Taking a look at the company’s recent performance, 3M Co reported third quarter earnings for fiscal year 2014 on October 23. The company reported actual earnings per share of $2.04 against the consensus Street estimate of $1.96. This represents a year-on-year increase of earning per share of $0.25 from corresponding quarter of last year. 3M Co posted revenue of $8.14 billion versus estimate of $8.25 billion.

3M Co (NYSE:MMM) is currently valued at $100.51 billion and closed the last trading session at $156.85. The stock has 50-day moving average of $151.86 and a 200-day moving average of $143.57.

MMM is currently trading 3.73% below its 52-week-high, 26.89% above its 52-week-low and in the range of $152.98-$162.92 over the past month. The 1-year range for the stock is $123.61-$162.92. 3M Co has a price to book ratio of 6.21 versus S&P 500 average of 2.7. 3M Co has outperformed the S&P 500 year to date by over 3.9%.

Is this a Buying Opportunity? Click here for a free Trend Analysis Report

There are currently twenty-two analysts that we track that cover the stock. Of those twenty-two, eight have a buy rating, twelve have a hold rating, and two have a sell rating. On a consensus basis this yields to a score of 3.55 and a Buy. The consensus target price stands at $156.43 which represents a downside difference of -0.27% from the last closing price of $156.85.

The most recent analyst activity consisted of Jefferies reiterating their buy stance with a target price of $164, which represents an upside of 4.56% from the last closing price. On the date of report, the stock closed at $156.85.

Another research firm weighing in recently was Argus Research Corp reiterating their buy stance with a target price of $160, which corresponds to an upside of 2.01% from the last closing price. On the date of report, the stock closed at $159.15.

A third research firm weighing in recently was JPMorgan maintaining their neutral stance with a target price of $147, which translates into a downside difference of -6.28% from the last closing price. On the day of report, the stock closed at $162.27.

Company Profile

3M Co (NYSE:MMM) is a diversified technology company. The Company’s business segments: Industrial, which serves a range of markets, such as automotive original equipment manufacturer (OEM) and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction; Safety and Graphics, which serves a range of markets for the safety, security and productivity of people, facilities and systems; Electronics and Energy, which serves customers in electronics and energy markets, including solutions for electronic devices, telecommunications networks, electrical products, power generation and distribution, and infrastructure protection; Health Care, which serves markets that include medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, and health information systems, among others, and Consumer, which serves markets that include consumer retail, office retail, home improvement, building maintenance and other markets.

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Alex Larose

Alex Larose

Alex Larose covers Large and Mid Cap stocks. He joined Markets Wired in 2013 and assumed lead coverage of the several sectors in early 2014.

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