BUZZ-PREVIEW: 3M seen reporting higher rev, EPS in results due Tuesday
3M Company MMM | 0.00 | |
Dow Jones Industrial Average DJI | 0.00 | |
S&P 500 index SPX | 0.00 |
** Shares of 3M Co MMM.N are down 0.1% at $159.67 on Mon, with the industrial conglomerate seen reporting higher rev, EPS in qtrly results due before the bell on Tues
** Analysts expect Q2 rev of $6.41 bln vs $6.16 bln a yr ago, and adj EPS of $2.25, vs $2.16 a yr ago, per LSEG
** Investors may be focused on legal costs from PFAS "forever chemical" lawsuits
** The industrial conglomerate makes a wide range of products including Scotch tape, Post-it notes, and medical supplies
** The co was sued by New York state earlier in July for allegedly hiding risks of toxic PFAS chemicals used in consumer products, seeking funds for cleanup and damages
** Stock is down 0.2% yr-to-date, underperforming the S&P 500's .SPX roughly 9% gain and 8% rise in Dow Industrials .DJI
** Ten of 19 analysts rate the stock 'buy' or 'strong buy', while seven have 'hold' ratings and two recommend 'sell' or 'strong sell'
