3M Company ($MMM) Stock Forecast: Down 2.2% Today

What is 3M Company?

3M Company (NYSE: MMM) is a multinational conglomerate known for producing various products across different sectors, such as Post-It notes, industrial adhesives, and healthcare software.

Why is 3M Company going down?

MMM stock is down 2.2% on Oct 22, 2024 14:35

• The downward trend in 3M's stock price today may be due to the following reasons:
• Despite surpassing expectations with its third-quarter earnings and sales, the stock market responded negatively to the slight year-over-year uptick in net sales, signaling potential worries about future growth prospects.
• Prior to the earnings announcement, investor anticipation may have prompted some to take profits following a notable increase in 3M's stock earlier this year, leading to a temporary decline in its price.
• Investors could be realigning their holdings based on the company's updated FY24 EPS guidance, potentially indicating a more guarded outlook on forthcoming profitability.
• Broader market sentiment or sector-specific conditions might also be contributing to the stock's decline today, as investors reconsider their risk tolerance and investment allocations.

MMM Price Chart

MMM Technical Analysis

MMM News

Post-It Maker 3M Q3 Earnings: Sales Growth Slows, Margins Expand, Raises Annual Profit Outlook - 3M ( NYSE:MMM )

3M Company MMM shares are trading higher after the company reported better-than-expected third-quarter adjusted EPS and sales and revised FY24 EPS guidance. The company reported net sales of $6.294 billion, a slight increase of 0.4% year-over-year.

https://www.benzinga.com/news/earnings/24/10/41453239/post-it-maker-3m-q3-earnings-sales-growth-slows-margins-expand-raises-annual-profit-outlook

3M Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts - 3M ( NYSE:MMM )

3M Company MMM will release earnings results for its third quarter, before the opening bell on Tuesday, Oct. 22.

https://www.benzinga.com/news/earnings/24/10/41444341/3m-gears-up-for-q3-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-analy

3M Earnings Preview: Can The Industrial Giant Beat Expectations Again? - 3M ( NYSE:MMM )

3M Company MMM is set to report its third-quarter financial results before Tuesday's opening bell. Here's a look at what to expect. The Details: 3M shares have gained more than 40% in 2024, though the rally has stalled heading into Tuesday's earnings release.

https://www.benzinga.com/news/earnings/24/10/41439308/3m-earnings-preview-can-the-industrial-giant-beat-expectations-again

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3M Company Price History

02.03.2024 - MMM Stock was up 5.3%

• Today, 3M's stock experienced a significant bullish movement following the finalization of the settlement agreement with U.S. public water suppliers. The agreement entails a $10.3 billion contribution from the company towards detecting PFAS contamination.
• The spin-off of 3M's healthcare unit, Solventum, may have also played a role in boosting investor sentiment. This strategic move aligns with the company's focus on core businesses and risk reduction.
• Despite facing legal and financial challenges, including a $6 billion lawsuit for defective earplugs and the $10.3 billion water contamination lawsuit, investors seem to view the settlement and spin-off as steps towards risk management and creating value for shareholders.
• Market response indicates optimism among investors regarding 3M's ability to tackle legal issues, streamline operations, and foster future growth.

22.09.2024 - MMM Stock was down 2.2%

• The downward trend in 3M's stock price today may be due to the following reasons:
• Despite surpassing expectations with its third-quarter earnings and sales, the stock market responded negatively to the slight year-over-year uptick in net sales, signaling potential worries about future growth prospects.
• Prior to the earnings announcement, investor anticipation may have prompted some to take profits following a notable increase in 3M's stock earlier this year, leading to a temporary decline in its price.
• Investors could be realigning their holdings based on the company's updated FY24 EPS guidance, potentially indicating a more guarded outlook on forthcoming profitability.
• Broader market sentiment or sector-specific conditions might also be contributing to the stock's decline today, as investors reconsider their risk tolerance and investment allocations.

05.03.2024 - MMM Stock was down 5.1%

• The recent decline in 3M's stock price could be linked to profit-taking following a period of growth spurred by the announcement of the Solventum spinoff.
• Investor sentiment may have been influenced by concerns about market overvaluation and the likelihood of a gradual correction in April.
• There seems to be a shift in market focus towards undervalued stocks and potential interest rate adjustments, diverting attention momentarily from 3M.
• News of growth in the digital signage market might have also drawn investors away from 3M today.

02.03.2024 - MMM Stock was up 5.3%

• 3M's stock surged following the company's agreement on a significant settlement with U.S. public water suppliers concerning perand polyfluorinated substances (PFAS) contamination.
• This settlement, amounting to $10.3 billion and scheduled to be disbursed over the next 13 years, offers a clearer outlook for 3M and diminishes uncertainties surrounding the company.
• Additionally, the separation of 3M's healthcare unit into Solventum prompted mixed reactions among investors regarding the new entity's potential value and growth prospects.
• Despite grappling with recent legal and financial hurdles, such as settlements linked to faulty earplugs and water pollution, 3M's proactive efforts to address these challenges appear to have resonated positively with investors.

02.03.2024 - MMM Stock was up 5.3%

• MMM stock saw a significant rise in value after the announcement of the Solventum spinoff, reflecting investor confidence in the company's growth prospects.
• Positive investor sentiment was reinforced by the absence of negative updates from XTI Aerospace, prompting investors to explore opportunities in related aerospace companies like 3M.
• Despite the positive market trend, it is worth noting that RBC Capital and BofA lowered 3M's stock price target due to various factors, including a recent approval related to public water suppliers that could impact the company's financial performance in the short term.
• Ongoing concerns about 3M's role in PFAS contamination and the financial implications of the settlement underscore the environmental and regulatory risks for investors to consider amidst the overall market positivity.

01.03.2024 - MMM Stock was up 5.3%

• 3M successfully concluded a settlement concerning drinking water contamination, receiving final approval from the U.S. District Court. This development likely contributed to the recent bullish market activity surrounding the company's stock.
• The completion of the spin-off for its healthcare unit, Solventum, which is now publicly traded on the NYSE, may have attracted investor attention and bolstered confidence in 3M's future growth opportunities.
• Despite dealing with legal issues like lawsuits over faulty products and environmental concerns, 3M's proactive approach to addressing these challenges and concentrating on its core operations could have fostered positivity among investors, influencing the recent bullish trend in the market.
• The market's response to the settlement agreement and spin-off suggests that investors interpret 3M's recent actions as positive steps, potentially signaling a more promising outlook for the company's stock in the coming days.

01.06.2024 - MMM Stock was down 2.1%

• The decline in 3M's stock price today is linked to legal action taken by Connecticut firefighters against 3M, DuPont, and Honeywell regarding allegedly contaminated protective gear. This development likely spooked investors, leading to a selloff of 3M shares.
• Despite the lawsuit's negative impact, there was notable bullish activity in 3M's options market, where high-profile investors adopted a positive stance on the stock. Such mixed signals could have intensified stock price volatility and downward pressure on 3M.
• Furthermore, speculations about a potential interest rate cut by the Federal Reserve may have prompted investors to shift their investments from industrial companies like 3M to sectors expected to gain more from lower borrowing costs. This trend likely contributed to the bearish movement in 3M's stock today.

26.06.2024 - MMM Stock was up 21.7%

• MMM shares surged by approximately 21% following the company's better-than-expected second-quarter financial results and an increase in its FY24 EPS outlook.
• The new CEO's restructuring efforts appear to be yielding positive results, as MMM exceeded estimates and demonstrated year-over-year revenue growth in Q2.
• The general market sentiment was optimistic, with the S&P 500 recording a gain of over 1%, further supporting MMM's upward trend.
• Investors responded favorably to the developments, showing belief in MMM's performance and future outlook, reflected in the significant rise in the stock price.

26.06.2024 - MMM Stock was up 18.3%

• 3M stock (MMM) surged by 20% to reach a two-year high.
• The stock rise was driven by 3M's strong quarterly results that exceeded expectations and positive future guidance.
• The appointment of William Brown as the new CEO also influenced the market positively, hinting at a potential turnaround for the company.
• The industrial sector, including 3M, boosted the overall market performance, with 3M marking its best day since 1972.

26.06.2024 - MMM Stock was up 13.2%

• 3M reported better-than-expected second-quarter results, with adjusted net sales beating consensus, leading to a surge in the stock price.
• The company raised its full-year profit forecast, indicating positive momentum under the new CEO's leadership after a period of turmoil.
• The market rebounded from a previous rout, with tech stocks like 3M (MMM) leading the way, suggesting renewed investor confidence in the sector.
• The increase in 3M's stock price could also be attributed to the overall positive sentiment in the market following expectations of easing inflation as indicated by the upcoming core PCE data.

26.06.2024 - MMM Stock was up 17.9%

• 3M (MMM) stock experienced a strong bullish movement following its Q2 2024 earnings report.
• The company beat analyst estimates for both earnings per share (EPS) and revenue, showcasing strong financial performance.
• The positive earnings report led to a surge in market sentiment, with Dow Jones experiencing significant gains, particularly driven by 3M's exceptional performance.
• The increase in adjusted profit despite slightly lower sales, along with the raised annual outlook, contributed to the stock's soaring movement.
• Overall, 3M's robust financial results and optimistic outlook propelled its stock price upwards, reflecting investor confidence in the company's performance and future prospects.

26.06.2024 - MMM Stock was up 20.5%

• 3M (MMM) stock climbed by 20% to a two-year peak following the release of their second-quarter earnings, which surpassed analysts' estimates for revenue, operating profit, and EPS.
• The robust earnings and higher full-year EPS guidance by 3M played a key role in the substantial stock price increase, signifying solid performance and growth potential for the company.
• The market sentiment was buoyed by optimistic inflation data from the Federal Reserve, fostering hopes for potential interest rate adjustments that further bolstered 3M stock's bullish trajectory.
• The company's strategic decisions under CEO William Brown's new leadership appear to have garnered favorable investor sentiment, propelling the stock price upwards to mirror confidence in 3M's future prospects.