3M Co. (MMM): Street Finally Waking Up

Currently, there are 553.36M common shares owned by the public and among those 552.83M shares have been available to trade.

However, the script later moved the day high at 94.34, up 6.02%. The company’s stock has a 5-day price change of 5.31% and 2.52% over the past three months. MMM shares are trading 2.87% year to date (YTD), with the 12-month market performance up to 8.98% higher. It has a 12-month low price of $71.35 and touched a high of $94.59 over the same period. MMM has an average intraday trading volume of 6.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.84%, 15.75%, and 13.14% respectively.

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Institutional ownership of 3M Co. (NYSE: MMM) shares accounts for 67.28% of the company’s 553.36M shares outstanding.

It has a market capitalization of $52.03B and a beta (3y monthly) value of 1.02. The earnings-per-share (ttm) stands at -$12.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.88% over the week and 2.38% over the month.

Analysts forecast that 3M Co. (MMM) will achieve an EPS of $2.09 for the current quarter, $2.42 for the next quarter and $10.19 for 2025. The lowest estimate earnings-per-share for the quarter is $2.03 while analysts give the company a high EPS estimate of $2.19. Comparatively, EPS for the current quarter was $1.97 a year ago. Earnings per share for the fiscal year are expected to increase by 2.02%, and 7.39% over the next financial year.

Barclays coverage for the 3M Co. (MMM) stock in a research note released on March 19, 2024 offered a Overweight rating with a price target of $126. Barclays was of a view on December 04, 2023 that the stock is Equal Weight, while HSBC Securities gave the stock Hold rating on September 15, 2023, issuing a price target of $109. Morgan Stanley on their part issued Equal-Weight rating on August 31, 2023.

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