Post-Earnings Coverage - 3M Co.
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30 Jul, 2014, 09:20 ET
LONDON, July 30, 2014 /PRNewswire/ --
Investor-Edge.com has issued complimentary post-earnings coverage on 3M Company (NYSE: MMM). The company was featured in the headlines on Thursday, July 24, 2014, for reporting an 11.7% year-over-year surge in diluted earnings per share (EPS) and 4.9% year-over-year growth in net sales during the second quarter of 2014. Our free coverage report can be accessed at:
During the second quarter of 2014, 3M Co.'s reported a 4.8% year-over-year growth in organic local-currency sales. The company's operating income stood at $1.86 billion, while operating income margins improved 0.8 percentage points year-over-year to 22.8%. The global industrial conglomerate was able to convert 103% of its net income into free cash flow during the quarter. In the June 2014 quarter, 3M Co. paid $556 million in cash dividends to shareholders and repurchased $1.4 billion of its own shares. The free research on MMM can be downloaded as in PDF format at:
Inge G. Thulin, 3M Co.'s Chairman, President and Chief Executive Officer, asserted that the positive organic sales growth across all businesses and geographic regions drove the company to achieve double digit EPS growth rate during the period. The company's Chairman further said that in addition to a strong operating performance, 3M Co. is also deploying capital more aggressively to both improve the business and to enhance shareholder returns. Further, Mr. Thulin referred to an announcement dated July 16, 2014, confirming that the Company has acquired the remaining 25% stake of Sumitomo- 3M's subsidiary in Japan for a purchase price of $885 million.
The Saint Paul, Minnesota-based company's quarterly net sales stood at $8.13 billion, above the $7.75 billion in the year-ago quarter and Bloomberg analysts' expectation of $8.08 million. Net income attributable to 3M Co. of $1.27 billion was above $1.20 billion reported in the prior year same quarter but marginally below market expectations of $1.28 billion. The company's earnings per diluted share of $1.91 overshadowed the $1.74 earnings per diluted share reported in the year-ago quarter but were in-line with Bloomberg consensus estimate. Sign up and read the free analyst's notes on MMM at:
On Thursday, July 24, 2014, a day after the earnings release, 3M Co.'s shares advanced 0.31% to close the session at $145.13. However, on Tuesday, July 29, 2014, the company's stock lost 1.04% to end the day at $144.02. Shares of 3M Co. vacillated between $143.99 and $146.27 during the session. A total of 2.29 million shares were traded, which was above its three months average volume of 1.97 million shares. Over the last one month and over the previous three months, 3M Co.'s shares have advanced 0.23% and 4.70%, respectively. Additionally, from the beginning of 2014, the stock has gained 2.69%. The company's shares are trading above their 50-day and 200-day moving averages. Moreover, the stock's 50-day moving average of $143.69 is greater than its 200-day moving average of $135.12. 3M Co.'s stock traded at a PE ratio of 20.30 and has a Relative Strength Index (RSI) of 56.64. Visit Investor-Edge and access the latest research on MMM at:
Sneak Peek to Corporate Insider Trading
In the last one month, 3M Company has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on MMM is available at:
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