Market Update (NYSE:MMM): 3M NMC Cathode Technology Confirmed by U.S. Patent Office

3M Company (MMM), with a current market cap of $88.46B, opened this morning at $133.98.  

During the trading session, MMM traded between $133.10 to $134.08 and has traded between $102.89 and $140.43 over the past 12 months.  

3M (MMM) shares are currently priced at 18.00x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.92x earnings multiple for the same period. 

And for passive income investors, the company pays shareholders $3.42 per share annually in dividends, yielding 2.60%.  

In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $1.80 per share, which would be $0.19 better than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $7.45 would be a $0.73 improvement 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. 

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

Given all the information above, we should disclose to readers that the average price target is $141.12, which is 5.33% above than it opened this morning. 

Summary (NYSE:MMM) :  3M Company operates as a diversified technology company worldwide. Its Industrial segment offers tapes; coated, nonwoven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; filtration products; closure systems for personal hygiene products; acoustic systems; automotive components; abrasion-resistant films; structural adhesives; and paint finishing and detailing products. The company’s Safety and Graphics segment provides personal protection products; traffic safety and security products; commercial graphics systems; commercial cleaning and protection products; floor matting; and roofing granules. Its Electronics and Energy segment offers optical films for electronic displays; packaging and interconnection devices; insulating and splicing solutions; telecommunications and electrical industries; touch screens and touch monitors; renewable energy components; and infrastructure protection products. The company’s Health Care segment provides medical and surgical supplies; drug delivery and health information systems; and dental, orthodontic, and food safety products, as well as skin health and infection prevention products. Its Consumer segment offers sponges, scouring pads, cloths, consumer and office tapes, repositionable notes, indexing systems, construction and home improvement products, home care products, protective material products, and consumer and office tapes and adhesives. The company serves automotive, electronics and energy, appliance, paper and printing, packaging, food and beverage, construction, clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, food manufacturing and testing, retail, home improvement, building maintenance, and other markets. 3M Company sells its products through wholesalers, retailers, jobbers, distributors, and dealers, as well as directly to users. The company was founded in 1902 and is headquartered in St. Paul, Minnesota.