PREVIEW: 3M seen posting 4.7% Q4 revenue drop Jan 22, 2024
** Shares of 3M MMM.N gaining ~0.7%at $108.50on Mon ahead of qtrly report due before market open on Tues
** Wall Street sees industrial conglomerate reporting adj EPS of $2.31, a 1.3% yr/yr gain, on rev of $7.70 bln, down 4.7% from year-ago qtr, according to LSEG data
** Co has beaten or met EPS estimates for all but one of eight most recent qtrs - last miss was Q3 2022
** On Nov 7, MMM declared dividend on co's common stock of $1.50/sh for Q4
** On Oct 24, co hiked full-year adj profit forecast as it offsets softening demand with price hikes
** Of 18 analysts covering 3M, 16 rate stock "hold," and 2 recommend "sell"; median PT of $111 - LSEG
** So far in 2024, MMM down ~0.7%vs the Dow's .DJI ~0.8%gain and S&P 500 Industrials .SPLRCI ~0.6%decline over the same time period
** Options imply a 4.4% swing in either direction for MMM shares by Fri, compared with an avg one-day move of 3.3% over past eight earnings days, according to Trade Alert