Why 3M Company's Shares Dropped Today
Shares of industrial giant 3M Company (NYSE: MMM) fell as much as 6.1% in early morning trading Tuesday after reporting second-quarter 2017 earnings. And shares didn't recover much by midday, trading down 5.1% at 12:30 p.m. EDT.
Revenue was up 1.9% in the quarter, to $7.81 million, and net income was up 22.6%, to $1.58 billion, or $2.58 per share. The results fell slightly short of the $7.88 billion in revenue and $2.59 per share in earnings that analysts expected.
Electronics are now the driver of growth at 3M. Image source: Getty Images.
Source: Fool.com
3M Company Stock
€94.66
-0.700%
Based on 8 Buy predictions and 8 Sell predictions the sentiment towards 3M Company is rather balanced.
As a result the target price of 103 € shows a slightly positive potential of 8.81% compared to the current price of 94.66 € for 3M Company.
