Company Update (NYSE:MMM): 3M Files Lawsuit to Enforce Its Patent Rights in Paint Protection Films

[Business Wire] – 3M filed a patent infringement lawsuit in federal district court in Minnesota on Dec. 29, 2015, against XPEL Technologies Corporation. Read more on this. 3M Company (MMM) , currently valued at $94.35B, started the session at $152.79. Shares have traded today between $152.79 and $153.70 per share and has traded between $134.00 and $170.50 over the past year. MMM shares are currently priced at 20.25x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.34x forward p/e ratio. And for passive income investors, the company pays shareholders $4.10 per share annually in dividends, yielding 2.75%. Consensus earnings for the current quarter by the 14 sell-side analysts covering the stock is an estimate of $1.63 per share, which would be $0.18 worse than the year-ago quarter and a $0.25 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $7.55 is a $0.06 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.23 Billion. If realized, that would be a 6.35% decrease over the year-ago quarter. Recently, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $159.36, which is 4.30% above where the stock opened this morning. See more in (NYSE:MMM) Similar Articles: Company Update: 3M Company (NYSE:MMM) – 3M Sells Its Library Systems Business Company Update: 3M Company (NYSE:MMM) – 3M Drug Delivery Systems and Impel NeuroPharma Form a Strategic Alliance Company Update: 3M Company (NYSE:MMM) – 3M Announces Second-Quarter Results; Company Delivers Sales of $7.7 Billion and All-Time Record Earnings of $2.02 per Share