An image of some coins and die
Markets

3M Backs 2011 Outlook; Offers In-Line 2012 Guidance (MMM)

Diversified manufacturer 3M Company ( MMM ) on Tuesday reiterated its previously-announced 2011 earnings forecast and offered 2012 guidance that could beat analyst expectations.

The St. Paul, MN-based maker of Scotch tape, flat panel displays, and healthcare products, said it still expects full-year 2011 earnings of $5.85 to $5.95 per share. 3M had lowered its 2011 outlook back in October .

Looking ahead, the company forecast 2012 earnings will range from $6.25 to $6.50 per share, on revenue of $30.2 billion to $31.5 billion. On average, Wall Street analysts expect $6.28 per share for the year on $30.59 billion in revenue.

3M Company shares rose $1.07, or +1.3%, in premarket trading Tuesday.

The Bottom Line

Shares of 3M ( MMM ) have a 2.72% dividend yield, based on last night's closing stock price of $80.93. The stock has technical support in the $75-$76 price area. If the shares can firm up, we see overhead resistance around the $83-$85 price levels.

3M Company ( MMM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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 Nasdaq, Inc.

Created by Dividend.com


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

In This Story

MMM

Other Topics

Stocks

Latest Markets Videos