3M Co. [NYSE: MMM] slipped around -1.4 points on Wednesday, while shares priced at $94.35 at the close of the session, down -1.46%. The company report on January 23, 2024 at 6:30 AM that 3M Delivers Strong Fourth-Quarter Results; Improves Operational Performance and Exceeds Earnings and Cash Flow Expectations.
Results reflect strong operational execution, progress on restructuring, and spending discipline.
Well-positioned to continue improving performance, including continued expansion of adjusted operating margins3 in 2024.
Compared to the average trading volume of 3.85M shares, MMM reached a trading volume of 6900267 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 3M Co. [MMM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MMM shares is $107.12 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 3.10. 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.
Barclays have made an estimate for 3M Co. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 04, 2023.
The Average True Range (ATR) for 3M Co. is set at 2.57, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 1.59. The Price to Book ratio for the last quarter was 10.71, with the Price to Cash per share for the same quarter was set at 10.84. Price to Free Cash Flow for MMM in the course of the last twelve months was 10.29 with Quick ratio for the last quarter at 0.76.
How has MMM stock performed recently?
3M Co. [MMM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.19. With this latest performance, MMM shares dropped by -13.69% in over the last four-week period, additionally sinking by -14.66% over the last 6 months – not to mention a drop of -16.19% 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 30.71, with the RSI for the last a single of trading hit 25.68, and the three-weeks RSI is set at 35.67 for 3M Co. [MMM]. The present Moving Average for the last 50 days of trading for this stock 103.04, while it was recorded at 95.69 for the last single week of trading, and 100.31 for the last 200 days.
3M Co. [MMM]: Deeper insight into the fundamentals
3M Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.76 and a Current Ratio set at 1.07.
Earnings analysis for 3M Co. [MMM]
With the latest financial reports released by the company, 3M Co. posted 1.97/share EPS, while the average EPS was predicted by analysts to be reported at 1.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.70%. 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 Co. go to 4.11%.
Insider trade positions for 3M Co. [MMM]
The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MMM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MMM stock with ownership which is approximately 5.8325%.
