MMM Stock Recent News

3M (NYSE: MMM) recently reported its Q2'24 results, with revenues and earnings beating the street estimates. The company reported adjusted revenue of $6.0 billion and earnings of $1.93 on a per-share and adjusted basis, compared to the consensus estimates of $5.9 billion and $1.68, respectively.

3M (MMM) hit a new 52-week high Monday and grew over 20% month to date. Could a comeback story be in the works for the company?

While a niche application of data storage and processing technology, biometric security is becoming an increasingly relevant sector within the broader technology industry. Back in 2021, the biometric system market was valued at $29.09 billion by Fortune Business Insights with predictions it would rise to $76.7 billion by 2029.

RBC Capital Markets analyst Deane Dray reiterated an Underperform rating on the shares of 3M Co MMM and raised the price target from $93.00 to $95.00.

From a technical perspective, 3M (MMM) is looking like an interesting pick, as it just reached a key level of support. MMM recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

3M stock had its best day on record Friday. Second-quarter earnings were a nice surprise, but they weren't the reason for the big jump in the shares.

3M (MMM) shares soared Friday after the maker of Scotch tape and Post-it Notes reported better-than-expected quarterly results and raised its full-year profit forecast, as the conglomerate reaps the benefits of cost-reduction measures and focuses on expanding its footprint into high-growth businesses.

We were more active than usual in the quarter, buying shares that were available at very attractive prices. All in, we have ugly ducklings - high returns on capital, cash cow spinoffs, working through resolvable issues, and selling at attractive prices. I love buying businesses like this, and if it drops to my next buy price, we will add to it.

MMM experienced a significant 22.99% increase in shares after strong earnings and positive outlook. Despite past challenges, MMM has a strong balance sheet, with ample cash to meet obligations and potential for future growth. MMM is undervalued compared to competitors like Honeywell, offering potential for further value unlocking and growth.

Major U.S. equities indexes saw significant gains on the final day of a volatile trading week after the latest Personal Consumption Expenditure (PCE) data revealed price increases ticked downward in June.