3M Co (MMM) was Downgraded by Goldman to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Nov 21, 2016.
Many Wall Street Analysts have commented on 3M Co. 3M Co was Downgraded by Goldman to ” Sell” on Nov 21, 2016. Shares were Reiterated by RBC Capital Mkts on Oct 26, 2016 to “Underperform” and Lowered the Price Target to $ 155 from a previous price target of $159 .Company shares were Upgraded by Barclays on Oct 24, 2016 to ” Overweight”, Firm has raised the Price Target to $ 194 from a previous price target of $171 .
On the company’s financial health, 3M Co reported $2.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $2.14. The company had revenue of $7709.00 million for the quarter, compared to analysts expectations of $7719.82 million. During the same quarter in the previous year, the company posted $2.05 EPS.
3M Co opened for trading at $172.51 and hit $173.28 on the upside on Monday, eventually ending the session at $172.96, with a gain of 0.11% or 0.19 points. The heightened volatility saw the trading volume jump to 17,11,068 shares. Company has a market cap of $104,030 M.
In a different news, on Nov 18, 2016, Julie L Bushman (Senior Vice President) sold 10,424 shares at $173.01 per share price. According to the SEC, on Nov 17, 2016, Kimberly F Price (Sr Vice President) sold 2,952 shares at $172.20 per share price. On Nov 15, 2016, Eric D. Hammes (VP, Corp Controller & CAO) sold 504 shares at $173.69 per share price, according to the Form-4 filing with the securities and exchange commission.
3M Company is a diversified technology company. The Company operates in five business segments: Industrial which serves a range of markets such as automotive original equipment manufacturer (OEM) and automotive aftermarket electronics appliance paper and printing packaging food and beverage and construction; Safety and Graphics which serves a range of markets for the safety security and productivity of people facilities and systems; Electronics and Energy which serves customers in electronics and energy markets including solutions for electronic devices telecommunications networks electrical products power generation and distribution and infrastructure protection; Health Care which serves markets that include medical clinics and hospitals pharmaceuticals dental and orthodontic practitioners and health information systems and Consumer which serves markets that include consumer retail office retail home improvement building maintenance and other markets.