Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $181.21 on 3M Company (NYSE:MMM) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $8.21 for the next fiscal and $N/A for underway quarter.
Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of 3M Company (NYSE:MMM) stands at 22.91.
Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For 3M Company Common Stock, the PEG ratio for coming 3-5 years is 2.45.
The technical analysis highlights that 3M Company Common Stock current is trading $0.53 points away or +0.30% from its 50-day moving average of $178.99. Further it is trading $10.47 or +6.20% away its 200-day moving average of $169.05.
The 52-week high of 3M Company (NYSE:MMM) was $182.27 while lowest point recorded in 52-week was $134.64. It implies if stock price makes a movement of over $-2.75, it will record a new 52-week high. In the case of +33.33% drop, it will touch a new 52-week low.
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