|Bid||157.00 x 800|
|Ask||157.34 x 900|
|Day's Range||156.12 - 158.59|
|52 Week Range||150.58 - 219.75|
|Beta (5Y Monthly)||1.14|
|PE Ratio (TTM)||20.09|
|Earnings Date||Apr 22, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||5.88 (3.71%)|
|Ex-Dividend Date||Feb 12, 2020|
|1y Target Est||171.25|
3M Co. and Wolverine World Wide Inc. have agreed to settle a lawsuit related to drinking water contamination in Michigan, which the maker of Merrell, Saucony and Keds shoes blamed on 3M chemicals.
Shares of industrial conglomerate 3M (NYSE:MMM) have been under tremendous pressure over the past year, as MMM stock has dropped from $220 in early 2019 to $150 today, amid persistently sluggish industrial economic growth in China, the U.S. and pretty much everywhere else across the globe.Source: josefkubes / Shutterstock.com But, I think that the worst of this global industrial slowdown is over, and 3M stock is ready to rip higher in 2020 by more than 20%.Specifically, it increasingly appears that -- once the coronavirus outbreak in China subsides (and it will, soon) -- global economic activity will rebound sharply and quickly, especially in the industrial and manufacturing sectors. As it does, 3M's revenue growth trends will meaningfully improve. At the same, management has announced significant restructuring and cost-cutting initiatives, the sum of which will drive margin expansion in 2020, too.InvestorPlace - Stock Market News, Stock Advice & Trading TipsRecharged revenue growth and margin expansion will power reinvigorated profit growth at the industrial conglomerate. That's the good news. The better news for bulls? The stock presently trades at a five-year low valuation of just 15.7x forward earnings.What do you get when reinvigorated profit growth converges on a five-year low valuation? A sharp jump in the stock price. That's exactly what will happen to 3M stock in 2020. Coronavirus Won't LastWhen you take a step back and look at the big picture, it becomes increasingly obvious that the global industrial economy is set for a significant re-acceleration over the next few quarters. * 7 Exciting Stocks to Buy for Aggressive Investors Right now, China's industrial sectors is getting hit hard by coronavirus, which has forced multiple factories and manufacturing sites to temporarily shut down. Those closures are disrupting global supply chains, slowing manufacturing around the world thanks to the coronavirus.But, this all just temporary.Soon enough, like all other epidemics, the coronavirus outbreak will pass. Chinese factories and manufacturing sites will re-open. Global supply chains will be fixed, and the industrial economy will stop slowing. Growth Trends Will ImproveMore than that, the industrial economy should actually push higher in 2020, for a few reasons.First, in response to the coronavirus outbreak, the People's Bank of China and many other central banks across Asia have injected a ton of fiscal stimulus into their respective economies. That provides ample firepower for a sharp economic rebound once virus fears subside.Second, also partially in response to the coronavirus, China has been more open to trade negotiations with the U.S. This increased openness will continue, because China doesn't want to upset its already fragile economy, so trade tensions will meaningfully de-escalate in the coming months.Third, with stability set to be re-injected into the global geopolitical environment, corporations are set to re-accelerate their capital spending plans in 2020. Capital spending is the backbone of the industrial economy. Thus, as capital spending trends improve on the back of easing trade tensions, industrial economic activity will rebound.Fourth, the industrial economy was already rebounding prior to the coronavirus outbreak. Just look at Purchasing Managers Index readings from across the globe in the back half of 2019 and into January. They were rebounding, everywhere, because of supportive central bank policies and easing trade tensions.Come mid-2020, there will be more fiscal stimulus and more trade tension de-escalation, so this rebound will likely kick into second gear. 3M Stock is Too CheapGiven that the industrial economy is set to rebound in 2020, 3M stock is simply too cheap for its own good here and now.That five-year low valuation got down there because the company's growth trends decelerated in 2019, amid sluggish industrial growth across the globe.But, as industrial growth picks up in 2020, 3M's growth trends will pick back up, too. When that happens, the current discount in the stock should disappear.So, throughout 2020, 3M stock should power higher, supported by renewed profit growth and steady multiple expansion. * 7 'Strong Buy' Stocks With Over 50% Upside Potential How much firepower does this rally have? Consensus 2021 sell-side earnings per share estimates sit around $10. The stock's five-year average forward earnings multiple -- and the average forward multiple for industrial conglomerate stocks -- is 20x. Combine those two, and you arrive at a reasonable 2020 price target for the stock of $200. Bottom Line on MMM StockIt's been a rough run for MMM stock over the past few years amid sluggish industrial growth across the globe. But once coronavirus fears subside, those sluggish industrial growth trends should materially improve on the back of easing trade tensions and supportive monetary policy.As those growth trends bounce back, so will 3M stock.As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Failing Tech Stocks to Disconnect From Now * 5 Ideal Dividend Stocks for New Investors * 4 Stocks to Buy No Matter Who Wins the 2020 Election The post 3M Stock has Double-Digit Upside Potential as Industrial Growth Resumes appeared first on InvestorPlace.
3M and Wolverine World Wide, Inc. have reached an agreement to address PFAS in the environment in Michigan’s Plainfield and Algoma Townships. This agreement resolves legal claims between the two companies and pertains only to the lawsuit between Wolverine and 3M.
DOW UPDATE Shares of Apple Inc. and Intel are trading lower Tuesday morning, sending the Dow Jones Industrial Average into negative territory. Shares of Apple Inc. (AAPL) and Intel (INTC) are contributing to the blue-chip gauge's intraday decline, as the Dow (DJIA) was most recently trading 91 points (0.
Eckhart, 3M, and KUKA collaborate on ready2_grind, a pre-configured automation package for the automation of metal finishing processes
Today, Amazon Web Services, Inc. (AWS), an Amazon.com company (NASDAQ: AMZN), announced that 3M (NYSE: MMM) is moving its enterprise IT infrastructure to AWS. As part of a company-wide enterprise IT transformation initiative, 3M is migrating its enterprise resource planning (ERP) system, including accounting, supply chain management, manufacturing, product lifecycle management, and e-commerce, along with business-critical enterprise IT applications, to the world’s leading cloud. Using AWS’s proven global infrastructure and breadth and depth of services, 3M will modernize its infrastructure and drive operational efficiencies across its global operations.
The Dow Jones Industrial Average - that group of 30 blue-chip behemoths with long track records of outperformance - is setting records seemingly every other day.The DJIA has climbed by more than 60% over the past five years on a price basis alone. Add in the dividends - all 30 Dow stocks are dividend payers - and the total return comes to a whopping 85%. The blue-chip average, trading at record levels, has 30,000 in its sights. That would have been unimaginable even half a decade ago.But not all Dow stocks are created equal. Each index component has a solid pedigree. However, their short- to intermediate-term prospects diverge widely, according to Wall Street's analyst community.If you want to pick and choose among the bluest of blue chips, you can look at this full list of 30 Dow stocks that we've sorted by analysts' average recommendation. Here's how it works: S&P; Global Market Intelligence surveys analysts' stock calls and scores them on a five-point scale, where 1.0 equals a Strong Buy and 5.0 is a Strong Sell. Scores between 3.5 and 2.5 translate into a Hold recommendation. Any score lower than 2.5 means that analysts, on average, rate the stock as being Buy-worthy. The closer a score gets to 1.0, the better.Here's a look at how analysts rate all 30 Dow stocks right now - and why. SEE ALSO: 64 Dividend Stocks You Can Count On in 2020
DOW UPDATE Dragged down by declines for shares of Cisco and Dow Inc., the Dow Jones Industrial Average is trading down Thursday afternoon. The Dow (DJIA) was most recently trading 102 points (0.3%) lower, as shares of Cisco (CSCO) and Dow Inc.
Global equities are reeling as the coronavirus from China continues to spread globally, killing its first victim in Japan. The outbreak is also forcing China to choose between killing its economy or killing more citizens by sending people back to work too early. Add to that reports the U.S. military is preparing quarantine facilities on bases and people are suddenly feeling fearful again.No surprise then that the Dow Jones Industrial Average is stalling just below the 30,000 level and looks set for another test of its 200-day moving average last touched back in October. Here are three stocks that are already rolling over.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dow Jones Stocks: 3M (MMM)Source: Chart courtesy of StockCharts.com3M (NYSE:MMM) shares are rolling over after the company reported disappointing earnings despite a 2.1% increase in sales from the prior year period. And mixed forward guidance only added to the pressure. The company is feeling the pressure from the going ons in China because of its exposure to the automotive sector, where it provides things like acoustic systems. Thus, the company's transportation and electronics segment saw a 5.9% drop in sales.Management is responding with job cuts to bolster profitability, but cost cutting is always a bad look especially when years of top-line growth have spoiled investors. This was bad timing for the folks at Wolfe Research, who just upgraded the stock to "neutral." Johnson & Johnson (JNJ)Source: Chart courtesy of StockCharts.comShares of healthcare icon Johnson & Johnson (NYSE:JNJ) are threatening to fall below their 20-day moving average. Such a fall would break the post-October uptrend the stock has enjoyed as consumer health claims continue to dent sentiment. A New Jersey state jury recently ordered the company to pay $750 million in punitive damages to four plaintiffs. Legal headwinds also remain from opioid and antipsychotic medications.Investors are also feeling sour after a mixed earnings report at the end of January. Sales of baby products in the United States -- a key retail category for the company and a source of a lot of brand goodwill -- fell nearly 27% year-over-year. Merck (MRK)Source: Chart courtesy of StockCharts.comMerck (NYSE:MRK) shares have fallen below their 200-day moving average, breaking an uptrend pattern going back to early 2018. This looks like classic profit taking as the company just reported solid earnings. But why all the selling? The pharmaceutical company reported revenue rising nearly 8% year-over-year on a 7% increase in pharmaceutical sales.Well, Vermont Sen. Bernie Sanders' win in the New Hampshire primary could be a concern. Sanders has been a vocal critic of drug prices and an advocate for single-payer healthcare in the United States. President Donald Trump, in his State of the Union address, also called for a "bipartisan legislation on drug prices." That's probably the only thing Sanders and Trump would ever agree on: Prescription drug prices are too high.As of this writing, William Roth does not hold any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 20 Stocks to Buy From the Law of Accelerating Returns * 10 Strong Lottery Ticket Stocks That Could Soar in 2020 * 7 U.S. Stocks to Buy on Coronavirus Weakness The post 3 Dow Jones Industrial Average Stocks to Sell appeared first on InvestorPlace.
DOW UPDATE Shares of Cisco and Dow Inc. are retreating Thursday morning, sending the Dow Jones Industrial Average into negative territory. The Dow (DJIA) was most recently trading 98 points (0.3%) lower, as shares of Cisco (CSCO) and Dow Inc.
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.
MercadoLibre on Monday reported mixed fourth-quarter results after earnings missed estimates as a surge in costs offset revenue growth that topped consensus estimates. MercadoLibre had reported EPS of $-2.96 on revenue of $603.03M in the previous quarter. The miss on the bottom line was partly driven by a fall in a margin to 45.7% from 47.8% in the fourth quarter total operating costs surged 83% for the quarter year-on-year.
Coronavirus is ravaging China and several other countries. With no cure yet, health officials are struggling to stop its spread. Demand for medical supplies like masks is up manifold.
DOW UPDATE Dragged down by declines for shares of Dow Inc. and Caterpillar, the Dow Jones Industrial Average is falling Friday afternoon. Shares of Dow Inc. (DOW) and Caterpillar (CAT) are contributing to the blue-chip gauge's intraday decline, as the Dow (DJIA) was most recently trading 278 points, or 0.
(Bloomberg Opinion) -- Boeing deserves blame for many things, but dragging U.S. economic growth below 3% isn’t one of them. U.S. Treasury Secretary Steven Mnuchin told Fox Business on Thursday that Boeing Co. is a big reason the U.S. won’t see the 3% expansion in gross domestic product that the Trump administration had been predicting for 2020. The Max crisis will shave 50 basis points or more off of GDP this year, Mnuchin said.Boeing is the largest U.S. exporter, and a production halt for its grounded 737 Max that took effect in January will undoubtedly be a drag on growth, particularly in the first quarter, and economists have said as much. Federal Aviation Administration chief Steve Dickson said Thursday that Boeing had discovered yet another new software issue on the Max in the latest reminder that the jet’s return remains highly fluid and that the current best estimate for a mid-2020 reintroduction may be realistic rather than conservative.(1) But to believe Mnuchin’s statement, you have to also believe that there was ever a real shot of 3% growth this year. Most economists would disagree.The median forecast of economists surveyed by Bloomberg is for 1.8% U.S. GDP growth this year. That number hasn’t been above 2% since May 2018, almost six month before the first Boeing Max jet crashed off the coast of Indonesia. The Max wasn’t grounded globally until five months after that. Even the most optimistic of the economists surveyed by Bloomberg haven’t called for 2020 GDP growth of 3%-plus since around last March, and there was little indication then that the Max crisis would drag out as long as it did or be as painful for the economy as it will end up being. Boeing initially said it would have all necessary paperwork in to the FAA by late March and didn’t signal it was even thinking about taking the drastic step of shutting down production until July. For the record, the median forecast for 2021 GDP, when Boeing Max production should be ramping back up, is 1.9%. It feels like Boeing is a convenient scapegoat for an administration that doesn’t care to admit its trade war with China dragged the manufacturing sector into a mild recession last year and that expectations for a swift recovery off of the eventual ceasefire signed in January were overblown. Even after the Max production halt was announced, White House economic adviser Larry Kudlow told CNBC Jan. 21 that U.S. GDP growth would get to 3% this year. In reality, plenty of industrial companies that have almost nothing to do with Boeing have been downbeat about their growth prospects in the coming year, calling for a still sluggish first half and a second-half recovery that many analysts expect to be relatively muted. “It took industrial activity a while to cool off and it will take a while to heat back up,” Jim Foote, CEO of railroad CSX Corp., said on the company’s earnings call last month. He didn’t mention the Max as a factor. Emerson Electric Co. and 3M Co. both announced fresh restructuring pushes to counter what remains a lackluster economic environment; neither of those companies are major suppliers to Boeing. The trade ceasefire agreed to in January will result in some rollback of tariffs: China said Thursday it will cut levies on some $75 billion of American imports later this month, while the U.S. will cut tariffs on about $120 billion of more consumer-facing goods. But the initial tariffs placed by the U.S. on some $250 billion of mostly manufacturing-related products from China remain in place. Meanwhile, China has been wishy-washy about how firm the purchasing commitments agreed to in the trade deal actually are, with caveats including market demand, quality and safety standards and, reportedly, the impact of the burgeoning coronavirus crisis. The U.S. economy likely isn’t going to grow at a 3% rate in 2020. But you can’t lose something you never had.(1) This particular problem has to do with an alert for the so-called trim system that moves the plane's nose up and down. It's not clear how much of a delay, if any, will result from this issue and Dickson also indicated a certification flight could occur within weeks.To contact the author of this story: Brooke Sutherland at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Moody's Investors Service, ("Moody's") affirmed the B3 Corporate Family Rating and B3-PD Probability of Default Rating of PHM Netherlands Midco B.V., doing business as Loparex. Moody's also affirmed all instrument ratings and assigned a B2 rating to the $207 million EURO equivalent proposed first lien term loan, which together with a $45 million HoldCo PIK loan will be used to reinance the equity bridge that funded the purchase of Infiana Group Gmbh and to combine both companies.
3M (NYSE:MMM) stock has spent the last two years stuck in bear country. And just when it looked like the industrial giant was going to finally depart, a nasty earnings announcement upended its flight plans. Today we'll take a renewed look at the trends and price levels that matter in the aftermath of January's disappointing report.Source: TY Lim / Shutterstock.com 3M stock put together an impressive recovery attempt during the fourth quarter, rising 19% off the lows. The ascent powered 3M back above its 200-day moving average for the first time since April's disastrous earnings pushed it into the abyss.Buyers returned, optimism improved, and the stock was poised for a solid start to 2020. Until earnings arrived to trash the turnaround, that is.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Utility Stocks to Buy That Offer Juicy Dividends January's announcement revealed adjusted earnings per share of $1.95 on $8.11 billion in revenue. Analysts were estimated $2.10 of earnings on $8.11 billion in sales. The company also announced additional job cuts. 3M Stock ChartsSource: The thinkorswim® platform from TD Ameritrade The weekly trend shows 3M still stuck in a two-year descending channel. With last week's debacle, it's now submerged back beneath its 50-week and 20-week moving averages.I peg support at $154 and resistance near $182. Until either level gives way, expect more of the same choppy to bearish behavior. From its 2018 peak, 3M is down 38%. I won't even mention its relative performance. With the S&P 500 courting record high after record high during the past two years, you can imagine how abysmal 3M has been by comparison.The daily chart more clearly reveals the details of last week's whack. In the six days since its underwhelming report, the stock has fallen 10.5%. Along the way, it's almost given back all that was gained during its fourth-quarter recovery.The shares are popping today buoyed by the rebound in the broader market, but with the sharp increase in momentum during its downswing, I suspect this is a rally that will fail. Rather than fishing for a bottom, I suggest using strength as an opportunity to build bearish trades from a better vantage point.Source: The thinkorswim® platform from TD Ameritrade A run toward $165 or $170 would create a compelling bear retracement setups.Volume patterns are weighing in favor of a bearish view. Five of the past seven trading sessions saw distribution suggesting institutions are heavy sellers right now. Color me skeptical that a multi-day bounce will change their disposition. Plus, with all the support zones shattered during the recent downswing, there are multiple resistance zones now looming overhead. Implied VolatilityOn the implied volatility front, premiums have deflated modestly after last month's earnings report and now sit at the 37th percentile of the one-year range. The expected daily moves moving forward are $2.23, so set your expectations accordingly.With implied volatility essentially in the middle of its range, I don't have a strong opinion on whether long or short options trades are best. Couple that with a stock that is just starting to bounce from oversold conditions, and it's difficult to suggest a trade at this point.That said, if 3M stock can rally back to the $165-$170 area, then I think short trades are worth a shot.As of this writing, Tyler Craig didn't hold positions in any of the aforementioned securities. For a free trial to the best trading community on the planet and Tyler's current home, click here! More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Utility Stocks to Buy That Offer Juicy Dividends * 10 Gold and Silver Stocks to Profit Off 2020's Fear Trade * 3 Top Companies That Should Be More Careful With Your Data The post 3M Stock Is a Toxic Stock After Earnings appeared first on InvestorPlace.