Stock Update (NYSE:MMM): 3M Updates Full-Year 2015 Guidance; Company Projects 7 to 12 Percent Earnings Growth in 2016

[Business Wire] – 3M will announce today that it is poised for a successful 2016, forecasting strong earnings growth in the face of a challenging global economy. Read more on this. 3M Company (MMM) , with a current market cap of $93.25B, opened at $152.00. A quick look at the market, the company’s stock traded between $150.80 and $153.02 with a trailing 52-week range being $134.00 to $170.50. Priced at 20.66x this year’s forecasted earnings, MMM shares are relatively expensive compared to the industry’s 15.80x forward p/e ratio. The company pays shareholders $4.10 per share in dividend income per year, for a current yield of 2.65%. According to a consensus of 14 analysts, the earnings estimate of $1.70 per share would be $0.11 worse than the year-ago quarter and a $0.19 sequential decrease. The full-year EPS estimate is $7.63 which would be a $0.14 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.41 Billion. If reported, that would be a 4.02% 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. The average price target for MMM shares by the analysts covering it is $162.07, which is 6.63% above where the stock opened. See more in (NYSE:MMM) Similar Articles: Stock Update (NYSE:K): Kellogg Company Reports Third Quarter 2015 Results, On-Track for Full-Year 2015 and 2016 Stock Update: Mead Johnson Nutrition Company (NYSE:MJN) – Mead Johnson Nutrition Reports Third Quarter and Nine-Month 2015 Earnings; Updates 2015 Guidance; and Announces $1.5 Billion Share Repurchase Plan Company Update: 3M Company (NYSE:MMM) – 3M Announces Second-Quarter Results; Company Delivers Sales of $7.7 Billion and All-Time Record Earnings of $2.02 per Share
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