3M's Earnings Outlook
Portfolio Pulse from Benzinga Insights
3M (NYSE:MMM) is expected to release its quarterly earnings report on Tuesday, 2024-01-23, with an estimated EPS of $2.31. Investors are looking for an earnings beat and positive guidance for the next quarter. In the past, 3M's stock price has not always correlated with earnings performance, sometimes dropping after an EPS beat. Shares are currently trading at $107.76, down 6.24% over the last 52 weeks. The upcoming earnings report could influence investor sentiment, especially considering the recent negative returns.
January 22, 2024 | 7:00 pm
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NEUTRAL IMPACT
3M is anticipated to report quarterly earnings with an estimated EPS of $2.31. Historical data shows that stock price reactions to earnings reports can be unpredictable. With shares down over the past year, the upcoming report could be a significant driver for short-term price movement.
The short-term impact on 3M's stock price is uncertain due to the mixed historical price reactions following earnings reports. While an earnings beat could positively influence the stock, the guidance provided will likely play a crucial role. The current downward trend in the stock price may temper any positive reaction to an earnings beat.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100