3M Cloud Library: Over Twice the Satisfaction of OverDrive

3M Company (MMM), with a current market cap of $90.07B, began trading this morning at $136.22. 

Looking at the equity, the company’s one day range is $135.70 to $137.19 and has traded between $102.89 and $140.43 over the past year. 

MMM shares are currently priced at 18.26x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 29.68x forward p/e ratio. 

And for income investors, the company pays shareholders $3.42 per share annually in dividends, yielding 2.50%. 

Consensus earnings for the current quarter by the 14 sell-side analysts covering the stock is an estimate of $1.80 per share, which would be $0.19 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $7.45 is a $0.73 better when compared to the previous year’s annual results. 

The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.96 Billion. If reported, that would be a 4.33% increase over the year-ago quarter. 

In terms of ratings, Argus downgraded MMM from Buy to Hold (Oct 27, 2011). Previously, Barclays Capital Initiated MMM at to Equal Weight. 

When considering if perhaps the stock is under or overvalued, the average price target is $141.12, which is 3.60% above where the stock opened this morning. 

For more information, please visit: http://www.iabrasive.com/.