Market Update (NYSE:MMM): New 3M Magnet Bonding Adhesive Set to Improve Designs of Permanent Magnet Motors

[Business Wire] – 3M today announced a new magnet bonding adhesive system designed to provide electric motor design and manufacturing engineers with an advanced tool for bonding permanent magnets to rotors and stators in high-efficiency permanent magnet electric motors. Read more on this. 3M Company (MMM) , valued at $85.94B, started the session at $140.10. Today’s price range has been between $139.26 and $140.80 per share with a trailing 52-week range being $134.00 to $170.50. MMM shares are currently priced at 18.37x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.10x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $4.10 per share annually in dividends, yielding 2.90%. In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $1.63 per share, which would be $0.18 worse than the year-ago quarter and a $0.25 sequential decrease. The full-year EPS estimate is $7.55, which would be a $0.06 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.21 Billion. If reported, that would be a 6.61% decrease over the year-ago quarter. In terms of ratings, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. When considering if the stock is under or overvalued, the average price target is $159.29, which is 13.70% above where the stock opened this morning. See more in (NYSE:MMM) Similar Articles: Market Update: 3M Company (NYSE:MMM) – 3M Showcases Science on Display at CES 2016 Market Update: 3M Company (NYSE:MMM) – 3M Invests in StrongArm Technologies Inc. Market Update: 3M Company (NYSE:MMM) – 3M Completes Acquisition of Capital Safety