3M (MMM) Stock Falls After Mixed Q2 Results

3M (MMM) stock is declining in late-afternoon trading Tuesday after the company reported mixed fiscal 2016 second quarter results before today's market open.
By Annie Palmer ,

NEW YORK (TheStreet) -- Shares of 3M (MMM) - Get Report  are slipping 1.26% to $177.34 in late-afternoon trading after the company reported mixed second quarter results before today's opening bell. 

The Maplewood, MN-based technology company posted earnings of $2.08 per share, beating analyst estimates by a penny. Revenue fell 3% year-over-year to $7.66 billion, compared to analyst expectations of $7.71 billion.

Last year, 3M reported earnings of $2.02 per share on revenue of $7.7 billion for the second quarter in 2015.

The company also lowered its organic local-currency sales guidance to between 0% to 1%, vs. its previous range of 1% to 3%. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate 3M CO as a Buy with a ratings score of A. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

You can view the full analysis from the report here: MMM

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