Source: 3M Facebook

Should You Buy 3M Stock Before Its Earnings Report?



3M is gearing up to release its third-quarter earnings results as the U.S. and most of the world continues to grapple with the economic impact of the COVID-19 pandemic. When does 3M report its earnings? Should you buy 3M stock before the earnings report?

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3M plans to report its earnings on Oct. 27 at 6:30 a.m. ET, according to the earnings calendar on the company's investor relations website. Investors considering 3M as a potential investment may have many questions right now. What is in the cards as 3M reports its earnings? Is 3M stock good for dividend investors?  What is the outlook for 3M stock?

Source: 3M Facebook
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3M's earnings expectations

Wall Street expects 3M to report an EPS of $2.26 on revenue of $8.3 billion. In the third quarter of 2019, 3M delivered revenue of $8.0 billion, which missed the consensus estimate at $8.2 billion. However, the EPS of $2.58 beat the consensus estimate at $2.49.

What is 3M stock’s price today?

3M stock popped up 0.76 percent to $172 in pre-market trading on Friday, Oct. 23. The stock closed on Oct. 22 at $170.71 with a 0.91 percent gain after trading in the range of $168.39–$170.99 during the day. So far, 3M stock is down 3.2 percent in 2020 and trades 6.5 percent below its 52-week high.

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How does the future look for 3M stock?

The most bullish analyst sees a 33 percent upside potential in 3M stock from the current level to $227 in 12 months. In contrast, the most bearish analyst sees a 15 percent downside in 3M stock to $145.

Is 3M stock right for your portfolio? 3M is one of the companies supplying items used in the fight against the COVID-19 pandemic. For example, the company supplies items like personal protective equipment and masks. While the COVID-19 pandemic has boosted the demand for some of 3M's products, the gains haven’t been enough to offset weakness in 3M’s other segments. The company makes more than 60,000 products under a range of brands.

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3M’s real opportunity lies beyond the COVID-19 pandemic. The stock should move higher as the COVID-19 pandemic is brought under control with vaccines and treatments to allow a full economic recovery. 

Source: 3M Facebook
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3M stock's dividend dates in 2020

Investors shopping for stocks with the best dividend will find 3M stock ideal for their portfolio. 3M has been paying dividends for more than 100 consecutive years, according to its investor relations website. The company has been increasing its annual dividend for 61 consecutive years. 

So far, 3M has paid a dividend three times in 2020 amounting to $4.41, according to it investor relations website. The latest dividend date was Sept. 12 when it distributed a dividend of $1.47 per share. Currently, 3M stock has a dividend yield of 3.44 percent. 


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