3M Company [MMM] Revenue clocked in at $35.35 billion, down -18.81% YTD: What’s Next?

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3M Company [NYSE: MMM] price plunged by -2.95 percent to reach at -$4.38. The company report on April 26, 2022 that 3M Reports First-Quarter 2022 Results.

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3M (NYSE: MMM) today reported first-quarter 2022 results.

“In a challenging global environment, 3M delivered a strong start to 2022 with solid growth, operating margins, and robust cash generation,” said 3M chairman and chief executive officer Mike Roman. “In response to feedback from our shareholders and to provide additional clarity on the strength of our underlying business performance, starting in the first quarter we are reporting adjusted earnings to exclude costs for significant litigation. These included, as we communicated on March 30th, the announced additional investment related to Zwijndrecht, which resulted in a 26-cent charge, along with costs related to other significant litigation of 13-cents in the first quarter. Excluding the Zwijndrecht investment our financial outlook for 2022 remains unchanged.

A sum of 4838155 shares traded at recent session while its average daily volume was at 3.49M shares. 3M Company shares reached a high of $146.98 and dropped to a low of $142.87 until finishing in the latest session at $144.22.

The one-year MMM stock forecast points to a potential upside of 11.2. The average equity rating for MMM stock is currently 3.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 3M Company [MMM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MMM shares is $162.41 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MMM stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for 3M Company shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on February 17, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $184 to $173. The new note on the price target was released on February 15, 2022, representing the official price target for 3M Company stock. Previously, the target price had yet another drop from $155 to $147, while RBC Capital Mkts kept a Underperform rating on MMM stock. On February 15, 2022, analysts decreased their price target for MMM shares from 180 to 170.

The Average True Range (ATR) for 3M Company is set at 3.06, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 2.34. The Price to Book ratio for the last quarter was 5.51, with the Price to Cash per share for the same quarter was set at 8.29. Price to Free Cash Flow for MMM in the course of the last twelve months was 34.09 with Quick ratio for the last quarter at 1.20.

MMM Stock Performance Analysis:

3M Company [MMM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.92. With this latest performance, MMM shares dropped by -4.15% in over the last four-week period, additionally sinking by -20.93% over the last 6 months – not to mention a drop of -25.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MMM stock in for the last two-week period is set at 38.00, with the RSI for the last a single of trading hit 32.98, and the three-weeks RSI is set at 39.99 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 148.38, while it was recorded at 148.87 for the last single week of trading, and 174.02 for the last 200 days.

Insight into 3M Company Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and 3M Company [MMM] shares currently have an operating margin of +21.29 and a Gross Margin at +46.99. 3M Company’s Net Margin is presently recorded at +16.75.

Return on Equity for this stock inclined to 42.42, with Return on Assets sitting at 12.54.

3M Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.

MMM Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MMM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for 3M Company go to 7.17%.

3M Company [MMM] Insider Position Details

There are presently around $57,158 million, or 68.80% of MMM stock, in the hands of institutional investors. The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 50,240,763, which is approximately 0.218% of the company’s market cap and around 0.12% of the total institutional ownership; BLACKROCK INC., holding 41,810,186 shares of the stock with an approximate value of $6.21 billion in MMM stocks shares; and STATE STREET CORP, currently with $4.6 billion in MMM stock with ownership of nearly 1.476% of the company’s market capitalization.

Positions in 3M Company stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,102 institutional holders increased their position in 3M Company [NYSE:MMM] by around 14,599,449 shares. Additionally, 1,065 investors decreased positions by around 17,338,675 shares, while 287 investors held positions by with 352,704,346 shares. The mentioned changes placed institutional holdings at 384,642,470 shares, according to the latest SEC report filing. MMM stock had 219 new institutional investments in for a total of 3,930,272 shares, while 145 institutional investors sold positions of 1,463,935 shares during the same period.