Amid Coronavirus Disruptions, Is Now the Time to Buy 3M Stock?
Multi-industry industrial 3M Company (NYSE: MMM) represents one of the most interesting investment options in its sector. Following a few years of lackluster operational performance, the company lost the valuation premium that it used to command over its peers and is arguably now moving into value range. Throw in management's commitment to restructure the company, and there was a case for buying the stock in 2020. That said, the COVID-19 pandemic is going to hit the company hard in 2020, so is now a good time to be buying the stock?
Earlier in the year, the market wasn't too impressed with 3M's fourth-quarter 2019 results. The company reported a $0.20 per share restructuring charge that reduced overall earnings per share (EPS) to $1.95. While nobody likes to see restructuring charges eating into earnings, there were a two main positives to be drawn from the report.
First, if you exclude the restructuring charges 3M would have hit the high point of its first-quarter guidance range.
Source Fool.com
