3M Co. - Growth And Income - Zacks Rank Buy

3M Co. (MMM) recently provided its outlook for 2010, forecasting earnings of $4.85 to $5.00 per share. Analysts polled by Zacks were in agreement and have since become more bullish, calling for earnings of $5.04 per share, versus last month's $4.91.

Company Description

3M produces thousands of innovative products for dozens of diverse markets. The company's core strength is applying its more than 40 distinct technology platforms, often in combination, to a wide array of customer needs. With $25 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 60 countries. 3M operates in six segments: Industrial and Transportation; Health Care; Safety, Security and Protection Services; Consumer and Office; Display and Graphics; and Electro and Communications.

2010 Guidance

3M recently provided its outlook for 2010, forecasting earnings of $4.85 to $5.00 per share. Analysts polled by Zacks were in agreement and have since become more bullish, calling for earnings of $5.04 per share, versus last month's $4.91.

For the 2009 year, 3M's earnings guidance ranges between $4.50 and $4.55 per share. The Zacks Consensus Estimate is more bullish at $4.57, up from $4.22 over the past 90 days.

The company's fourth-quarter report is scheduled for release on January 28.

Solid Income

3M declared a dividend of 51 cents per share, which was paid out on December 12. The company pays an industry-leading dividend yield of 2.5%.

Beating the Benchmarks

The company offers a return on equity (ROE) of 28%, versus an industry average of 22%. The company's net profit margin of 12% is ahead of the industry's 11%.

Shares of MMM doubled the market's performance in 2009.

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