3M Co. (NYSE:MMM) shares, rose in value, with the stock price down by -2.84% to the previous day’s close as strong demand from buyers drove the stock to $90.54.
Actively observing the price movement in the last trading, the stock closed the session at $93.19. The value of beta (5-year monthly) was 1.03. Referring to stock’s 52-week performance, its high was $94.70, and the low was $71.35. On the whole, MMM has fluctuated by 16.83% over the past month.
With the market capitalization of 3M Co. currently standing at about $50.10 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 30, 2024. The company’s Forward Dividend Ratio is 6.01, with its dividend yield at 6.64%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.06, which is expected to increase to $1.93 for fiscal year $7.51 and then to about $7.55 by fiscal year 2025. Data indicates that the EPS growth is expected to be -18.70% in 2025, while the next year’s EPS growth is forecast to be 0.50%.
Analysts have estimated the company’s revenue for the quarter at $6.84 billion, with a low estimate of $5.61 billion and a high estimate of $7.64 billion. According to the average forecast, sales growth in current quarter could jump down -8.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $24.57 billion, representing a decrease of -21.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that MMM’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MMM currently trading nearly 4.63% and 11.17% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 60.94, while the 7-day volatility ratio is showing 3.93% which for the 30-day chart, stands at 2.68%. Furthermore, 3M Co. (MMM)’s beta value is 1.03, and its average true range (ATR) is 2.42.
A comparison of 3M Co. (MMM) with its peers suggests the former has fared considerably weaker in the market. MMM showed an intraday change of -2.84% in last session, and over the past year, it grew by 3.56%%.
Data on historical trading for 3M Co. (NYSE:MMM) indicates that the trading volumes over the past 10 days have averaged 7.34 million and over the past 3 months, they’ve averaged 6.35 million. According to company’s latest data on outstanding shares, there are 553.36 million shares outstanding.
Nearly 0.10% of 3M Co.’s shares belong to company insiders and institutional investors own 67.27% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 12.65 million shares as on Mar 15, 2024, resulting in a short ratio of 2.16. According to the data, the short interest in 3M Co. (MMM) stood at 2.29% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 6.08 million. The stock has fallen by -0.94% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MMM stock heading into the next quarter.
