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
€157.35
2.210%
Our community is currently high on 3M Company with 19 Buy predictions and 7 Sell predictions.
However, we have a potential of -0.86% for 3M Company as the target price of 156 € is below the current price of 157.35 €.
