December 15th, 2015

Company Update (NYSE:MMM): 3M Announces Channel Distribution of StrongArm ErgoSkeleton Devices

[Business Wire] – 3M Personal Safety Division announces that StrongArm® Technologies ErgoSkeleton™ personal performance equipment will now be available for purchase through 3M’s distribution channels within the United States. Read more on this. 3M Company (MMM) , currently valued at $102.09B, started trading this morning at $170.05. Today’s price range has been between $167.82 and $170.38 per share with a one year range of $134.00 to $171.27. MMM shares are currently priced at 20.55x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.81x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $4.44 per share annually in dividends, yielding 2.62%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $2.07 per share, which would be $0.05 better than the year-ago quarter and a $0.04 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $8.26 would be a $0.68 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.73 Billion. If realized, that would be a 0.52% increase over the year-ago quarter. More recently, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. The average price target for MMM shares is $171.60, which is 0.91% above where the stock opened this morning. See more in (NYSE:MMM) Similar Articles: Company Update: 3M Company (NYSE:MMM) – 3M and Festool Announce Strategic Collaboration to Serve Automotive Collision Repair Industry Company Update: 3M Company (NYSE:MMM) – 3M Company and 3M United Kingdom PLC Announce Resolution of Environmental Lawsuit Related to Fire Fighting Foams Market Update: 3M Company (NYSE:MMM) – 3M Joins Forces of its Personal Safety Division and Capital Safety Business at World of Concrete
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