3M Reaffirms FY2012 Earnings View; Positive Guidance in 2013 (MMM)

By
A A A
Share |

Diversified manufacturer 3M Co. ( MMM ) will reaffirm its fiscal 2012 view on Wednesday while also giving positive guidance towards 2013 and beyond.

The St. Paul, Minnesota-based company is expected to report a 2012 earnings target of $6.27 to $6.35 per share. Analysts at The Street expect 3M to earn $6.32 per share.

Looking ahead to 2013, 3M forecasts earnings to be in the range of $6.70 to $6.95 per share. Analysts estimate a fiscal year 2013 EPS of $6.85.

"I look forward to another strong year for 3M," said Inge G. Thulin, 3M chairman, president and CEO. "Our unique combination of technology, manufacturing prowess and global capability - along with inherent operational excellence - will enable us to once again grow sales and profits."

3M shares were flat in premarket trading. The stock is up +14.62% year-to-date.

The Bottom Line
Shares of 3M ( MMM ) have a 2.52% dividend yield, based on last night's closing stock price of $93.68. The stock has technical support in the $86-$88 price area. The stock is trading near its all-time high range of $94-$96 a share.

3M Co. ( MMM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: MMM

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

How to Save Money at Bars
How to Save Money at Bars           

Stocks

Referenced

77%

Most Active by Volume

44,823,339
  • $75.19 ▲ 0.28%
43,744,171
  • $3.44 ▼ 0.29%
42,340,022
  • $97.671 ▲ 0.66%
34,178,145
  • $17.62 ▼ 1.23%
34,028,998
  • $15.59 ▼ 0.19%
32,055,708
  • $21.23 ▼ 2.41%
31,539,235
  • $3.76 ▲ 0.80%
30,434,619
    $34.25 unch
As of 7/25/2014, 04:03 PM