3M’s (MMM) 2019 profit estimates have declined from $11.49 to $11.42, $11.24 and $10.79 the last 4 qtrs, and that’s hurting the stock.
3M (MMM) stock has had an amazing decade as investors were impressed with its high dividend yield. Now MMM has come back to earth.
Shares of 3M (MMM) broke their uptrend last qtr as higher interest rates and a stronger dollar have made the shares less valuable in my eyes.
3M (MMM) is expected to grow profits 15% in 2018 as worldwide economies are growing strong. Lower taxes help too. But much of the good news is already priced into the stock.
3M (MMM) is having a barrer year. The stock is up 30% so far in 2017. But 2017’s success has left the stock extended with a valuation much higher than normal.