Diversified manufacturer 3M Co. (MMM) will reaffirm its fiscal 2012 view on Wednesday while also giving positive guidance towards 2013 and beyond.
The St. Paul, Minnesota-based company is expected to report a 2012 earnings target of $6.27 to $6.35 per share. Analysts at The Street expect 3M to earn $6.32 per share.
Looking ahead to 2013, 3M forecasts earnings to be in the range of $6.70 to $6.95 per share. Analysts estimate a fiscal year 2013 EPS of $6.85.
“I look forward to another strong year for 3M,” said Inge G. Thulin, 3M chairman, president and CEO. “Our unique combination of technology, manufacturing prowess and global capability – along with inherent operational excellence – will enable us to once again grow sales and profits.”
3M shares were flat in premarket trading. The stock is up +14.62% year-to-date.
The Bottom Line
Shares of 3M (MMM) have a 2.52% dividend yield, based on last night’s closing stock price of $93.68. The stock has technical support in the $86-$88 price area. The stock is trading near its all-time high range of $94-$96 a share.
3M Co. (MMM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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