BUZZ-Preview: 3M is expected to show growth in revenue and earnings per share in its financial report to be released on Tuesday

October 19 - ** 3M (MMM.N) shares fell 1% on Monday, as the market expects the company to show growth in both revenue and earnings per share in its quarterly report due before Tuesday’s opening.

** According to data from London Stock Exchange Group (LSEG), the industrial group is expected to report quarterly revenue of $6.61 billion, up from $6.32 billion in the same period last year; adjusted earnings per share of $2.38, higher than $2.19 a year earlier.

** The company raised (link) its full-year profit outlook in July, stating that price increases offset the impact of inflation and the safety and industrial segments performed strongly.

** Investors are also closely watching the latest developments in litigation costs (link), after a $1.4 billion lawsuit was filed in Australia over “forever chemicals” contamination.

** In July, New York State (link) sued 3M, DuPont DD.N, and others, accusing them of selling “forever chemicals” that harmed the environment and public health.

** The 12-month median target price for MMM shares is $187; the stock most recently traded at $163.17.

** According to LSEG data, analyst ratings for the stock include ten “strong buy” or “buy” ratings, ten “hold” ratings, and one “sell” rating.

** 3M shares have risen about 2% so far this year, while the Dow Jones Industrial Average .DJI is up more than 8% in the same period.

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