3M Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

3M Company (NYSE:MMM) is scheduled to release its third-quarter earnings on October 21, with analysts forecasting EPS of $2.07 on $6.25 billion in revenue, representing year-over-year growth. This follows the company's better-than-expected second-quarter results and an upward revision of its FY25 adjusted EPS guidance, which contributed to a 1.4% gain in its shares. Recent analyst coverage indicates a generally positive sentiment, with multiple firms maintaining Overweight or Neutral ratings and increasing price targets, though one analyst maintained an Underperform rating.

Analysis

3M Company (NYSE:MMM) is poised to release its third-quarter earnings on October 21, with consensus estimates indicating anticipated year-over-year growth. Analysts project EPS of $2.07, an increase from $1.98 in the year-ago period, alongside revenue of $6.25 billion, up from $6.07 billion. These forecasts suggest continued operational improvement for the diversified industrial firm.

This positive outlook follows 3M's better-than-expected second-quarter financial results and a subsequent upward revision of its FY25 adjusted EPS guidance. The market reacted favorably to this prior performance and guidance update, with shares gaining 1.4% to close at $154.78 on Monday.

Analyst sentiment remains largely constructive, as evidenced by multiple firms maintaining Overweight or Neutral ratings and increasing their price targets. JP Morgan, Wells Fargo, and Barclays raised their price targets to $178, $176, and $172 respectively, while Citigroup increased its target to $169. Although RBC Capital maintained an Underperform rating with a $100 price target, the prevailing analyst view suggests confidence in 3M's near-term trajectory.

Key Decisions for Investors

• Investors should closely monitor 3M's Q3 earnings report for confirmation of the projected EPS and revenue growth, as well as any updates to FY25 guidance, which could further influence market sentiment.
• Given the predominantly positive analyst revisions and increased price targets, consider the potential for continued upside if the company meets or exceeds consensus expectations.
• Evaluate the divergence in analyst ratings, particularly the Underperform stance from RBC Capital, to understand potential risks or differing perspectives on 3M's long-term fundamentals and competitive positioning.