Does 3M Have Enough Cards Left To Play?
Stephen Simpson, CFA
Stephen Simpson, CFA
May 12, 2015, 5:02 PM
- 3M (NYSE:MMM) declares $1.025/share quarterly dividend, in line with previous.
- Forward yield 2.56%
- Payable June 12; for shareholders of record May 22; ex-div May 20.
Apr. 27, 2015, 7:44 AM
- In his "We Are Full of Bull" note this morning, Morgan Stanley's Adam Parker says the economy will accelerate in Q2 and Q3, bringing stocks along for the ride. If investors are gun-shy thanks to record levels for the averages, Parker suggests looking for names with decent long-term earnings forecasts trading at a discount to the market.
- The ten largest U.S. stocks trading at a discount, but with above-average expected growth rates: Apple (NASDAQ:AAPL), Citigroup (NYSE:C), Gilead (NASDAQ:GILD), Union Pacific (NYSE:UNP), Actavis (NYSE:ACT), Twenty-First Century Fox (NASDAQ:FOXA), Time Warner (NYSE:TWX), Ford (NYSE:F), BlackRock (NYSE:BLK).
- Conversely, one might want to avoid those stocks selling for substantial premiums. The ten largest stocks trading at a premium to the market while growing at a below-average rate: Exxon (NYSE:XOM), Procter & Gamble (NYSE:PG), Chevron (NYSE:CVX), Coca-Cola (NYSE:KO), Pepsico (NYSE:PEP), Schlumberger (NYSE:SLB), MMM, McDonald's (NYSE:MCD), UPS, Nike (NYSE:NKE).
- Source: Bloomberg
Apr. 23, 2015, 9:19 AM
- 3M (NYSE:MMM) -3.2% premarket after Q1 earnings and revenues fail to meet expectations, and the company cut its 2015 profit outlook, due to the impact of the stronger U.S. dollar.
- After foreign currency impacts reduced Q1 pre-tax earnings by ~$90M, or the equivalent of $0.10/share, 3M now expects foreign currency impacts to reduce FY 2015 EPS by $0.35-$0.40, compared with its previous guidance for a $0.20 hit; the company now sees FY 2015 EPS of $7.80-$8.10.
- As for 2015 revenue, 3M now expects it to fall by 6%-7% Y/Y, worse than its previous forecast of a 4%-5%; analysts had expected FY 2015 revenue to rise less than 1% to $32B.
- 3M maintains its forecast for organic local currency sales growth of 3%-6%.
- Q1 sales slipped in most of 3M's business units, falling 4.3% to $2.7B at its industrial unit, 3.6% to $1.4B in its safety and graphics business, 3.3% to $1.3B in its health care unit, and 2.9% to $1B at its consumer unit; only the company's electronics and energy unit reported a sales increase, rising less than 1% to $1.3B.
Apr. 23, 2015, 7:31 AM
- 3M (NYSE:MMM): Q1 EPS of $1.85 misses by $0.08.
- Revenue of $7.57B (-3.3% Y/Y) misses by $270M.
- Shares -0.7% PM.
Apr. 22, 2015, 5:30 PM
- ABBV, AEP, ALK, ALXN, ASPS, AVT, BAX, BBT, BCC, BEAV, BHE, BKU, BMS, BTU, CAB, CAM, CAT, CFX, CLFD, CLI, CMS, COL, COR, CSL, DAN, DGX, DHR, DLX, DNKN, DOW, DPS, DPZ, DST, EQM, EQT, ERIC, FAF, FCX, FNB, GM, GMT, GPK, GRA, HP, HSY, HUB.B, IQNT, IR, IVC, JAH, JCI, JNS, KKR, LAZ, LLY, LTM, LUV, MDP, MDSO, MHO, MJN, MMM, MO, MTH, NDAQ, NUE, NVS, NWE, ORI, PENN, PEP, PG, PHM, PII, PNK, PRLB, PTEN, RS, RTIX, RTN, SFE, SNA, SQNS, STC, SUI, SWK, SXC, SYNT, UAL, UNP, USG, UTEK, WBC, WCC, WNS
Apr. 17, 2015, 5:27 PM
- GE and Honeywell (NYSE:HON) say they will take steps to cushion the impact of a stronger dollar, after GE said foreign currency effects whacked $950M, or four percentage points, off its Q1 sales, while HON also reported a four-point Q1 drag from a stronger dollar and projected that exchange fluctuations would weigh down sales by $1.7B this year.
- GE says it is considering different locations where it can manufacture products or components for businesses, such as its power and healthcare units, and HON has been hedging transactions that its individual foreign subsidiaries make when they import in dollars, and now it is also hedging when the company's foreign sales are translated back into the dollar.
- The impact of currency shifts on U.S. companies will be highlighted further next week with quarterly reports from United Technologies (NYSE:UTX), which already cut its 2015 financial forecast in January over currency worries, as well as from 3M (NYSE:MMM) and Illinois Tool Works (NYSE:ITW).
Apr. 2, 2015, 11:03 AM
- "Just because a stock is up already, you haven't missed it if the story is really good," says Will Danoff, whose Fidelity Contrafund (MUTF:FCNTX) has smoked the market over his 25 years in charge, but trailed the S&P 500 last year.
- With Contrafund pushing $113B in AUM, Danoff - on advice from Warren Buffett to bet big on the best ideas - has trimmed the number of stocks in the portfolio to 350 from 500.
- Among the stocks where he's finding strong growth at a decent price is Associated British Foods (OTCPK:ASBFY): "They are taking Europe by storm," he says, and the chain is coming to America with an opening on Boston this fall, followed by other locations.
- Others in the strong growth at a reasonable price category are Boeing (NYSE:BA) and 3M (NYSE:MMM).
- Facebook (NASDAQ:FB): "Don't sell after the first double," says Danoff, believing the migration to mobile means the company will continue to increase its current $6 in revenue per U.S. user.
- Source: Barron's
Feb. 23, 2015, 7:04 AM
- Asahi Kasei (OTCPK:AHKSY) has agreed to buy Polypore's (NYSE:PPO) energy storage segment, as it seeks to expand in the energy and environment business.
- Asahi Kasei will pay $60.50 per share in cash, a 14% premium to their $52.95 close on Friday, and representing an enterprise value of about $3.2B.
- Immediately prior to Asahi Kasei’s purchase of Polypore, 3M (NYSE:MMM) will acquire the assets of Polypore’s separations media business for about $1B and Asahi Kasei will receive the cash proceeds from asset sale.
- PPO +13.2% premarket
Feb. 19, 2015, 10:23 AM
Jan. 27, 2015, 8:28 AM
- Net income of $1.18B, or $1.81 per share, vs. $1.10B, or $1.62 per share, a year ago.
- While profit for the quarter narrowly beat analysts’ expectations, revenue fell shy at $7.72B, below an estimate of $7.77B.
- Revenue by segment: Industrial +1.4%; Electronics and Energy +3.3%; Safety and Graphics +3.4%; Health Care +2.4%; Consumer +2.2%.
- The company affirmed its 2015 outlook and expects full-year earnings to be in the range of $8.00-$8.30 per share with organic local-currency sales growth of 3%-6%.
- MMM -1.8% premarket
- Q4 results
Jan. 27, 2015, 7:31 AM
- 3M (NYSE:MMM): Q4 EPS of $1.81 beats by $0.01.
- Revenue of $7.72B (+2.0% Y/Y) misses by $50M.
Jan. 26, 2015, 5:30 PM
Jan. 21, 2015, 7:11 AM
- 3M (NYSE:MMM) will report Q4 results on Jan. 27. The conference call is scheduled to begin at 8:00 a.m. CST.
- Consensus view is EPS of $1.80 on revenues of $7.77B.
Dec. 24, 2014, 9:28 AM
- Shares of 3M (NYSE:MMM) are slightly lower premarket after Langenberg downgraded the company to Hold from Buy.
- "3M...remains well on track to achieve its 2013 to 2017 objectives," analysts noted, "but paying 20x forward EPS for a specialty chemical company is tough for us."
- Despite the downgrade, the firm raised its price target on the stock to $170 from $160.
- MMM -0.2% premarket
Dec. 17, 2014, 9:54 AM
Dec. 16, 2014, 7:05 AM
- After raising its dividend for the first quarter by 20%, 3M (NYSE:MMM) announces that it expects organic sales to rise 3%-6% in 2015, excluding the effect of foreign exchange rates.
- The company also forecasts 2015 earnings of $8.00-$8.30 per share. Analysts on an average are expecting $8.20 per share on revenue of $33.1B.
- Further guidance will be provided on a 2015 Outlook Conference Call at 8:00 a.m. ET.
3M Co. is a science company, which engages in inventing. It operates through the following business segments: Industrial, Safety and Graphics, Electronics and Energy, Health Care, and Consumer. The Industrial segment involves in the automotive original equipment manufacturer and automotive... More
Sector: Industrial Goods
Industry: Diversified Machinery
Country: United States