U.S. manufacturing company 3M (MMM) saw its stock price boosted Tuesday alongside its earnings report for the fourth quarter of 2024. The report starts out positive, with adjusted earnings per share of $1.68 beating Wall Street’s estimate of $1.66. That’s despite the company’s EPS dropping 2% year-over-year from $1.70.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Another highlight of the earnings report is 3M’s Q4 revenue of $6.01 billion, which exceeded analysts’ estimate of $5.78 billion. However, Q4 revenue was only up 0.1% from the same period in 2023. Organic sales were flat due to a 70-basis-point headwind, acquisitions/divestitures increased 0.9 %, and translation was down 0.8% during the quarter.
Today’s Q4 earnings beat is pushing MMM stock 3.52% higher, building on its 61.56% increase over the last year. The stock also started 2025 strong with a 9.25% increase year-to-date.
3M 2025 Outlook Impresses Investors
3M provides guidance for its full year of 2025 in its Q4 earnings report. This has it expecting adjusted EPS to range from $7.60 to $7.90 Investors are happy with this outlook compared to Wall Street’s estimate of $7.80 per share. The guidance also includes an expected 0.5% to 1.5% increase in 2025 net sales while operating cash flow comes in between $5.2 billion and $5.3 billion.
3M CEO William Brown reaffirms this guidance in a statement to shareholders. He claims the company is carrying its strong 2024 momentum forward and is confident in its “ability to deliver our 2025 guidance.”
Is MMM Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for 3M is Moderate Buy based on five Buy, three Hold, and two Sell ratings over the last three months. With that comes an average price target of $150.44, a high of $184, and a low of $96. This represents a potential 6.67% upside for MMM shares. These ratings and price targets will likely change as analysts update their coverage following today’s earnings report.
