3M Co. (MMM) concluded trading on Wednesday at a closing price of $129.23, with 3.66 million shares of worth about $473.15 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 68.54% during that period and on August 21, 2024 the price saw a gain of about 1.20%. Currently the company’s common shares owned by public are about 552.58M shares, out of which, 548.08M shares are available for trading.
Stock saw a price change of 2.43% in past 5 days and over the past one month there was a price change of 23.39%. Year-to-date (YTD), MMM shares are showing a performance of 41.39% which increased to 55.83% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $71.35 but also hit the highest price of $128.65 during that period. The average intraday trading volume for 3M Co. shares is 4.65 million. The stock is currently trading 4.62% above its 20-day simple moving average (SMA20), while that difference is up 16.71% for SMA50 and it goes to 38.53% higher than SMA200.
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3M Co. (NYSE: MMM) currently have 552.58M outstanding shares and institutions hold larger chunk of about 67.43% of that.
The stock has a current market capitalization of $70.99B and its 3Y-monthly beta is at 0.93. PE ratio of stock for trailing 12 months is 76.41, while it has posted earnings per share of $1.69 in the same period. It has Quick Ratio of 1.08 while making debt-to-equity ratio of 3.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MMM, volatility over the week remained 1.25% while standing at 2.83% over the month.
Analysts are in expectations that 3M Co. (MMM) stock would likely to be making an EPS of 1.7 in the current quarter, while forecast for next quarter EPS is 1.53 and it is 7.06 for next year. For the current quarter EPS, analysts have given the company a lowest target 1.6 which is 1.78 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of 2.44 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -5.69% while it is estimated to increase by 8.31% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Argus on July 30, 2024 offering a Buy rating for the stock and assigned a target price of $145 to it. Coverage by Deutsche Bank stated 3M Co. (MMM) stock as a Buy in their note to investors on July 29, 2024, suggesting a price target of $150 for the stock. On June 13, 2024, Wolfe Research Upgrade their recommendations, while on June 07, 2024, BofA Securities Upgrade their ratings for the stock with a price target of $120. Stock get a Buy rating from Vertical Research on May 16, 2024.
