3M and Eastman Chemical Shares Rising Before Earnings

3M Company (NYSE:MMM) will unveil its latest earnings on Thursday, January 26, 2012. The average estimate of analysts is for net income of $1.31 per share, a rise of 3.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.47. Between one and three months ago, the average estimate moved down. It also has dropped from $1.32 during the last month. Analysts are projecting profit to rise by 3.1% versus last year to $5.93.

Last quarter, the company fell short of estimates by 0 cents, coming in at profit of $1.52 per share against a mean estimate of net income of $1.61. The company fell in line with expectations in the second quarter. On average, analysts predict $7.09 billion in revenue this quarter, a rise of 5.7% from the year ago quarter. Analysts are forecasting total revenue of $29.59 billion for the year, a rise of 11% from last year’s revenue of $26.66 billion.

Competitors to Watch: General Electric Company (NYSE:GE), Danaher Corporation (NYSE:DHR), Johnson & Johnson (NYSE:JNJ), DENTSPLY Intl. Inc. (NASDAQ:XRAY), Tyco International Ltd. (NYSE:TYC), Carlisle Companies, Inc. (NYSE:CSL), Honeywell Intl. Inc. (NYSE:HON), Siemens AG (NYSE:SI), and E.I. du Pont de Nemours & Co. (NYSE:DD).

Eastman Chemical Company (NYSE:EMN) will unveil its latest earnings on Thursday, January 26, 2012. The average estimate of analysts is for profit of 80 cents per share, a rise of 14.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 89 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 80 cents during the last month. Analysts are projecting profit to rise by 34% versus last year to $4.65.

Last quarter, the company reported net income of $1.19 per share versus a mean estimate of profit of. The company has beaten estimates for the past three quarters. On average, analysts predict $1.64 billion in revenue this quarter, a rise of 12.3% from the year ago quarter. Analysts are forecasting total revenue of $7.08 billion for the year, a rise of 21.2% from last year’s revenue of $5.84 billion.

Competitors to Watch: The Dow Chemical Company (NYSE:DOW), PolyOne Corporation (NYSE:POL), FMC Corporation (NYSE:FMC), Ashland Inc. (NYSE:ASH), A. Schulman, Inc. (NASDAQ:SHLM), Westlake Chemical Corp. (NYSE:WLK), Huntsman Corporation (NYSE:HUN), Kraton Performance Polymers Inc (NYSE:KRA), E.I. du Pont de Nemours & Co. (NYSE:DD), and Albemarle Corporation (NYSE:ALB).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com