Solid News
3M Co. Maintains a Stable Dividend Policy
12/9/2022 2:32 PMThe stocks of the American diversified innovation and manufacturing company 3M Co. are trading in a corrective trend, being near the 126.00 mark.
Despite the fact that the report for Q3 did not meet the expectations of both the company itself and analysts, M Co. expects overall growth to continue in the range of 3.0% to 3.5% with earlier estimates of 0.5%-2.5%, adjusted earnings per share in the range of 10.10 dollars to 10.35 dollars, which is slightly lower than previous forecasts of 10.30–10.80 dollars, and free cash flow is estimated at 6.8–7.4B dollars. It is also likely that the funds released from the sale of the food division will be able to be invested in the healthcare business, which is currently the most profitable.
As for the dividends, the new payment will take place on December 12, when 1.49 dollars per share will be sent to investors. The yield is still a high 4.63%, and the issuer's securities remain attractive to bidders. Moreover, the annual indexation of payments is expected to continue next year, thanks to which the amount of dividends may increase to 1.50 dollars per share.
On the daily chart, the price continues to be in the stage of forming a global descending channel, coming close to the resistance line.
Technical indicators are ready for a reversal: the histogram of the AO oscillator is close to the transition level, forming descending bars, and the fast EMAs of the alligator indicator are still slightly above the signal line.
Support levels: 121.00, 112.50. | Resistance levels: 129.40, 139.00.