BUZZ-PREVIEW: 3M seen reporting rise in rev, EPS in results Friday

Reuters
07-18
BUZZ-PREVIEW: <a href="https://laohu8.com/S/MMM">3M</a> seen reporting rise in rev, EPS in results Friday

** Shares of 3M MMM.N were up 0.9% on Thurs, with the conglomerate due to report a rise in rev and EPS when it releases qtrly results before the bell on Fri

** Analysts expect Q2 rev of $6.11 bln vs $6.02 bln in the yr-ago period and adj EPS of $2.01/shr vs $1.93 a yr ago, according to LSEG

** UBS analysts ahead of the report said they expect margins to be up sequentially and EPS within the co's guidance range, while they expect a "modest increase" to core EPS guidance

** "The bottom line is we believe MMM is executing well on the things it can control, but the revenue outlook remains a bit cloudy," said the analysts, who maintain a "buy" rating

** Analyst recommendations overall include 12 "strong buy" or "buy" ratings, five "hold" ratings and two "sell" ratings

** The median PT is $163.00, while the stock was last at $158.91

** Options imply a 5.0% swing in either direction for MMM shares by Fri; that is below the 8% average move the stock has logged on the day of results over past eight quarters, according to Trade Alert

** MMM is up about 23% for the YTD compared with a roughly 4.5% gain in the Dow Jones industrial average .DJI in that period

(Reporting by Caroline Valetkevitch; additional reporting by Saqib Iqbal Ahmed)

((caroline.valetkevitch@thomsonreuters.com))

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