3M Company (NYSE:MMM) traded at $115.00 at close of the session on Tuesday, 01/24/23, made a downward move of -6.21% on its previous day’s price.
Looking at the stock we see that its previous close was $122.62 and the beta (5Y monthly) reads 0.99 with the day’s price range being $102.58 – $122.00. The company has a trailing 12-month PE ratio of 10.02. In terms of its 52-week price range, MMM has a high of $175.25 and a low of $107.07. The company’s stock has lost about -6.85% over that past 30 days.
3M Company has a market cap of $62.40 billion and is expected to release its quarterly earnings report on Jan 24, 2023. With its Forward Dividend at 5.96 and a yield of 5.18%, the company’s investors could be anxious for the MMM stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $2.36, with the EPS growth for the year raised at $10.18 for 2022 and $10.2 for next year. These figures represent 0.60% and 0.20% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $8.04 billion, with a low of $7.95 billion and a high of $8.14 billion. The median projection represents growth adding up to -6.60% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $34.2 billion, or -3.30% down from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the MMM stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Based on estimates by 22 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 16 have rated the 3M Company (MMM) stock as a Hold, while 0 rate it as a Buy. 1 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 4 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is -6.96% off its SMA20 and -8.20% from its 50-day simple moving average. The RSI (14) is pointing at 35.79 while the volatility over the past week is 6.52% and jumps to 3.05% over the past one month. The beta value is 0.98, while the average true range (ATR) is currently pointing at 4.29.
Let’s briefly compare 3M Company (MMM) stock to its peers. We find that current price change of -6.21% and -33.39% over the past 12 months for MMM. Another of its peers Honeywell International Inc. (HON) has gained 1.21% previous session, and was 0.89% up over the past year, while General Electric Company (GE) was also up 1.17% in the last session, while its price remained in the green at 7.39% over the same period. 3M Company has a P/E ratio of 10.02 compared to Johnson & Johnson’s 23.43 and Honeywell International Inc.’s 26.47. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.
Coming back to 3M Company (NYSE:MMM), we note that the average 3-month trading volume was 2.86 million, while that of the preceding 10-day period stands at 3.06 million. Current shares outstanding are 568.80 million.
The insiders hold 0.11% of the company’s shares while institutions hold 68.10%. The data shows that short shares as of Dec 29, 2022, stood at 13.61 million at a short ratio of 4.61. This represents a 2.46% short interest in shares outstanding on Dec 29, 2022. Shares short rose in December from the previous month at 13.05 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -4.10% down in year-to-date price movement.