3M Company (MMM) reported an earnings miss for its 4th quarter, ending 12/31/2022. Earnings per share came in at $2.28, versus the expected $2.36.
The reported revenue of $8.08 billion represents a decrease of -6.27% compared to the previous quarter, and a decrease of -6.19% compared to the same period last year.
For the 1st quarter, analysts project earnings of $2.50 per share.
Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for MMM stock.
What’s Next for 3M Company, Post-Earnings?
According to TipRanks, the average analyst consensus on MMM stock is a Moderate Sell. This consensus is based on 9 analyst ratings made in the past 3 months. 3M Company’s average price target of $120.13 implies upside potential of 4.46% from current levels.
See our Earnings Calendar for a full list of this week’s earnings releases.
Bottom Line
An earnings miss can signify negative movement ahead for a stock’s price. Currently, MMM price is $115.00, indicating a 5-day drop of -2.90%.
About 3M Company
Founded in 1902, Minnesota-based 3M Company manufactures and sells industrial, safety and consumer products worldwide. It operates through multiple business segments including, Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The company offers its products directly to users and through various e-commerce and traditional wholesalers, retailers, jobbers, distributors, and dealers..
Learn more about MMM financials here
