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Company Update: 3M Company (NYSE:MMM) – 3M and Festool Announce Strategic Collaboration to Serve Automotive Collision Repair Industry

[Business Wire] – 3M Company and TTS Tooltechnic Systems AG & Co. KG, maker of Festool brand products, today announced a strategic collaboration to provide customers in the global automotive collision repair industry a new and comprehensive surface preparation and finishing system. Read more on this. 3M Company (MMM) , valued at $95.90B, started trading this morning at $158.01. During today’s session, MMM traded between $157.77 to $158.53 and has traded between $134.00 and $170.50 over the past 12 months. 3M (MMM) shares are currently priced at 19.23x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.02x earnings multiple for the same period. And for income investors, the company pays shareholders $4.44 per share annually in dividends, yielding 2.79%. According to a consensus of 16 analysts, the earnings estimate of $1.93 per share would be $0.08 better than the year-ago quarter and a $0.10 sequential decrease. The full-year EPS estimate is $8.23, which would be a $0.65 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.35 Billion. If realized, that would be a 3.03% decrease over the year-ago quarter. Recently, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. The average price target for MMM shares by the analysts covering the stock is $157.81, which is 0.13% below where the stock opened this morning. See more in (NYSE:MMM) Similar Articles: Company Update: 3M Company (NYSE:MMM) – 3M Company and 3M United Kingdom PLC Announce Resolution of Environmental Lawsuit Related to Fire Fighting Foams Market Update: 3M Company (NYSE:MMM) – 3M to Sell Pressurized Polyurethane Foam Adhesives Business Company Update: 3M Company (NYSE:MMM) – 3M Drug Delivery Systems and Impel NeuroPharma Form a Strategic Alliance
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