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Thursday, December 3, 2020

3M Company (NYSE:MMM) Recent Earnings Shows Major Concern

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3M Company (MMM) shares are trading at lower $164.71 and the avg recommendation for the stock is Hold. while the current analyst price target stands at $162.87.

To add more color to this target, the company’s high over the last year is $182.54 and the low is $114.04. Over the last 52 weeks, MMM is down -9.77% while the S&P 500 is up 0.32%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, MMM reported a profit of $3.37 billion. 3M Company also saw revenues increase to $7.18 billion. In addition, MMM has free cash flow of $2.41 billion as of 06-2020. The company’s EBITDA came in at $2.23 billion which compares well with its peers.

MMM booked profit margins of 16.40%, its Return on Equity (ROE) is 49.20%, and its Return on Assets is 11.50%. All told, it is clear that, MMM needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MMM has a short ratio of 2.08 and outstanding shares of 577.00M.

Company Outlook

MMM has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.47 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 8.82. 3M Company MMM also noted assets of $45.08 billion at the end of the last quarter. Investors should also keep an eye on sector updates as MMM has historically followed its peers on positive news.

All told, 3M Company MMM has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MMM represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

3M Company MMM is now commanding a market cap of 94.74B and a float of 574.97M. MMM is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MMM stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in MMM, either long or short, and we have not been compensated for this article.

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