Company Update: 3M Company (NYSE:MMM) – 3M Company and 3M United Kingdom PLC Announce Resolution of Environmental Lawsuit Related to Fire Fighting Foams

[Business Wire] – 3M Company and 3M United Kingdom PLC today announced that the States of Guernsey dismissed its claims against 3M Company and 3M United Kingdom PLC, with prejudice. A trial, which pertained to the purchase, use and disposal of 3M Light Water Brand Aqueous Film-Forming Foam by Guernsey Airport, began on Jan. Read more on this. 3M Company (MMM) , currently valued at $93.64B, started the session at $152.42. Looking at the equity, the company’s one day range is $151.75 to $154.33 with a one year range of $134.00 to $170.50. MMM shares are currently priced at 18.01x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 13.81x earnings multiple. And for income investors, the company pays shareholders $4.10 per share annually in dividends, yielding 2.72%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $1.92 per share, which would be $0.07 better than the year-ago quarter and a $0.12 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $8.21 is a $0.63 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.36 Billion. If realized, that would be a 2.90% decrease over the year-ago quarter. More recently, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. Investors should keep in mind is that the average price target is $160.13, which is 5.06% above where the stock opened this morning. See more in (NYSE:MMM) Similar Articles: Market Update: 3M Company (NYSE:MMM) – 3M to Sell Pressurized Polyurethane Foam Adhesives Business Company Update (NYSE:MMM): 3M Files Lawsuit to Enforce Its Patent Rights in Paint Protection Films Company Update (NYSE:MMM): 3M Prevails Against Seil Global Co. Ltd. in an Unfair Competition Action Related to 3M’s Dental Mixing Tip Products
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