|Bid||162.82 x 1000|
|Ask||163.28 x 800|
|Day's Range||162.98 - 164.27|
|52 Week Range||150.58 - 219.75|
|Beta (3Y Monthly)||1.28|
|PE Ratio (TTM)||19.63|
|Earnings Date||Oct 24, 2019|
|Forward Dividend & Yield||5.76 (3.55%)|
|1y Target Est||172.00|
3M (MMM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
3M (MMM) recently spent $6.7 billion to acquire Acelity, a medical-tech company with concentrations in specialized surgical applications and wound care.
After a strong earnings-driven rally yesterday, U.S. equity benchmarks gave back some of those gains Wednesday following some slack retail sales data.Source: Venturelli Luca / Shutterstock.com Retail sales dipped 0.30% in September, disappointing analysts that had been forecasting a 0.30% increase. In better news, the Commerce Department revised the August figure to a gain of 0.60%, but as stocks' performance today indicates, market participants focused more on the September number, a logical approach considering the holiday shopping season is essentially upon us.I've been reluctant to join the calls regarding a recession, but I've also been clear that the consumer is integral when it comes to holding things together for the U.S. economy. Another bit of silver lining is that the September retail sales figure was the first decline in seven months and that the decline was largely attributable to spending drops at motor vehicle supply stores.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAmong Dow components, looming earnings reports from the likes of Apple (NASDAQ:AAPL), Home Depot (NYSE:HD), McDonald's (NYSE:MCD) and Walt Disney (NYSE:DIS) should bring the state of the consumer into clearer view.For today, the Nasdaq Composite dropped 0.30% while the S&P 500 declined 0.20%. The Dow Jones Industrial Average retreated by 0.08% with just 12 of its 30 components higher in late trading.Johnson & Johnson (NYSE:JNJ) was the only Dow stock to gain more than 1% today on what looked liked some follow through on Tuesday's earnings report as well as some favorable reaction to some of the various opioid-related verdicts the company is contending with. Other Bright SpotsIn late trading, JPMorgan Chase (NYSE:JPM), the largest U.S. bank by assets, was clinging to a modest gain. This might be another example of follow through on yesterday's earnings report as well as a sympathy move on the back of Bank of America's (NYSE:BAC) strong report out earlier today. * 10 Buy-and-Hold Stocks to Own Forever "Given the fact that multiple rate cuts have already occurred, with the possibility for more, this was not surprising," said Morningstar in a note on JPM out yesterday. "Management also nailed down its expense guidance a bit more, coming in at roughly $65.5 billion, whereas before the guidance was simply for less than $66 billion. After incorporating these and other changes, we are increasing our fair value estimate to $114 per share from $110." Finally Some Good NewsShares of 3M Co. (NYSE:MMM) traded lower today, extending the stock's run as one of this year's worst-performing Dow names, but the stock is up more than 8% over the past week and some analysts are waxing bullish on the industrial conglomerate."Even after the 4% bounce on Oct. 11, we still believe the stock trades at a discount to intrinsic value in a diversified industrial space with few bargains," said Morningstar in a recent note on 3M. "As a GDP-plus business, 3M doesn't offer much in the way of top-line growth. Even so, we like the name with speculation of an upcoming recession because 3M is a defensive stock." Oil WoesWhile there was some talk that the Organization of the Petroleum Exporting Countries (OPEC) may extend recent supply cuts, Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) were the worst performers in the Dow Jones today.Big oil companies report third-quarter earnings later this month, but some analysts are already warning that estimates could be missed and that could explain some of the malaise in the group today. This year, energy is the worst-performing group in the S&P 500. * 7 Big Bank Stocks on the Move Bottom Line on the Dow Jones TodayReminder that International Business Machines (NYSE:IBM) reports today after the bell and that tomorrow is light on the Dow earnings front with none of the index's members report. American Express (NYSE:AXP) and Coca-Cola (NYSE:KO) resume Dow earnings season on Friday before the bell.As for the consumer, there are some good data points to consider."Perhaps the biggest difference versus last cycle: consumers are less indebted. On the eve of the financial crisis consumers were contending with record levels of debt," according to BlackRock. "At its peak in 2007, household debt was more than 130% of disposable income. Today household debt is less than 100% of income. Not only are debt levels lower, but thanks to historically low yields the cost of servicing the debt is near an historic low."As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks to Buy (With Brands You Can Find In Your Kitchen) * 7 Hot & Trendy Generation Z Stocks to Buy * 5 Stocks to Buy in the Mighty Middle The post Dow Jones Today: Retail Worries Take A Toll appeared first on InvestorPlace.
3M MMM recently completed its acquisition of Acelity, which at an enterprise value of $6.7 billion represents the largest acquisition the company has ever made. As a GDP-plus business, 3M doesn't offer much in the way of top-line growth. In our view, the market traditionally values 3M like a consumer healthcare stock with industrial exposure.
3M (MMM) suffers from weakness in organic sales, high costs of sales, forex woes and high debts. Fall in cash flow generation is also concerning.
Few things are harder to understand than the reasons for analysts' recommendations. Action in the shares of blue-chip and Dow Jones member 3M make for a good illustration. In September 2011, the overall market was distressed over the European banking crisis and the Greek bail-out proceedings.
3M (MMM) today announced it has completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide from a consortium comprised of funds advised by Apax Partners (the Apax Funds), together with controlled affiliates of the Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments) for a total enterprise value of approximately $6.7 billion, including assumption of debt and other adjustments. Acelity is a leading global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand. “This is an exciting day as we bring together two premier and innovative companies that are focused on delivering comprehensive health care solutions to enable better outcomes for patients,” said 3M chairman and CEO Mike Roman.
Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter of 2018. Trends reversed 180 degrees during the first half of 2019 amid Powell's pivot and optimistic expectations towards a trade deal with China. Hedge funds and institutional investors tracked by Insider Monkey usually invest a […]
General Electric is making major changes after a brutal couple of years. Here is what the fundamentals and technical analysis say about buying GE stock now.
Investing in small cap stocks has historically been a way to outperform the market, as small cap companies typically grow faster on average than the blue chips. That outperformance comes with a price, however, as there are occasional periods of higher volatility. The last 12 months is one of those periods, as the Russell 2000 […]
Buy 3M between its 2019 low of $150.81 set on Oct. 3 and its monthly pivot for October at $155.92. The stock is cheap with a P/E ratio of 16.72 and a generous dividend yield of 3.70%.
SAN DIEGO, CA / ACCESSWIRE / October 8, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in 3M Company (NYSE:MMM) shares. Investors, who purchased shares ...
Post-it Brand from 3M announces its highly-rated Post-it App is now available on the Mac App Store with macOS Catalina, the latest version of the world’s most advanced desktop operating system from Apple. Post-it App for Mac seamlessly extends what was already a great user experience for mobile to the desktop. The leading Post-it App user request has been to create a desktop version of the app.