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
€89.72
-0.300%
With 9 Sell predictions and only 2 Buy predictions the community sentiment for 3M Company is rather negative.
With a target price of 80 € there is a slightly negative potential of -10.83% for 3M Company compared to the current price of 89.72 €.
