Industrial giant 3M has been buffeted by legal and regulatory issues. The company's legal problems got so bad that management needed to spin off its crown jewel medical assets to raise capital.
3M investors who ignored MMM's peak pessimism have performed remarkably. MMM has consolidated well along the $100 level. Selling enthusiasm has also been lacking. 3M's new leadership team must execute well in the second half to meet its FY2024 guidance promulgated previously.
3M (MMM) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
3M Company's second quarter results are expected to be lackluster compared to peers in the multi-industrial sector, with organic contraction of around 1% versus 2%-3% growth for the group. Auto electrification and electronics should be comparatively healthier businesses, but short-cycle manufacturing consumables could be weak; 2H '24 guidance will be important. 3M made a surprising move, naming Bill Brown as the new CEO; I like the prospects for meaningful transformation, but there's likely a lot of work ahead.
3M (MMM) is making strides in the diversified technology services market, which makes the stock worth a watch amid certain headwinds.
The latest trading day saw 3M (MMM) settling at $104.64, representing a +1.29% change from its previous close.
Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
After hitting a May 20, 52-week high, consumer goods stock 3M Co (NYSE:MMM) pulled back to its 20-day moving average and $100 century mark. Buying followed a bullish post-earnings reaction in early May, even as retail clients at major brokerages were net sellers during the month. Since then, MMM took out its 2020 low at $97 and later retested that level.
In the most recent trading session, 3M (MMM) closed at $103.23, indicating a +1.53% shift from the previous trading day.
3M (MMM) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
A new CEO and an ongoing restructuring program should help the company improve its performance. Management has strengthened the company's balance sheet to give it more financial flexibility.
3M Co (NYSE:MMM) chief financial officer Monish Patolawala has resigned, to pursue another opportunity, weeks after the company appointed a new CEO. Patolawala was announced today as joining Archer-Daniels-Midland, the food processor and grain trader.