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3M (MMM) Gains But Lags Market: What You Should Know
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3M (MMM - Free Report) closed the most recent trading day at $179.84, moving +0.8% from the previous trading session. This change lagged the S&P 500's 0.95% gain on the day.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 8.39% in the past month. In that same time, the Conglomerates sector lost 1.37%, while the S&P 500 lost 1.87%.
Investors will be hoping for strength from MMM as it approaches its next earnings release, which is expected to be October 26, 2021. In that report, analysts expect MMM to post earnings of $2.33 per share. This would mark a year-over-year decline of 4.12%. Our most recent consensus estimate is calling for quarterly revenue of $8.92 billion, up 6.79% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.98 per share and revenue of $35.33 billion. These results would represent year-over-year changes of +14.19% and +9.76%, respectively.
Any recent changes to analyst estimates for MMM should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% lower. MMM is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MMM has a Forward P/E ratio of 17.88 right now. For comparison, its industry has an average Forward P/E of 18.98, which means MMM is trading at a discount to the group.
Also, we should mention that MMM has a PEG ratio of 1.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MMM's industry had an average PEG ratio of 1.67 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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3M (MMM) Gains But Lags Market: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $179.84, moving +0.8% from the previous trading session. This change lagged the S&P 500's 0.95% gain on the day.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 8.39% in the past month. In that same time, the Conglomerates sector lost 1.37%, while the S&P 500 lost 1.87%.
Investors will be hoping for strength from MMM as it approaches its next earnings release, which is expected to be October 26, 2021. In that report, analysts expect MMM to post earnings of $2.33 per share. This would mark a year-over-year decline of 4.12%. Our most recent consensus estimate is calling for quarterly revenue of $8.92 billion, up 6.79% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.98 per share and revenue of $35.33 billion. These results would represent year-over-year changes of +14.19% and +9.76%, respectively.
Any recent changes to analyst estimates for MMM should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% lower. MMM is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MMM has a Forward P/E ratio of 17.88 right now. For comparison, its industry has an average Forward P/E of 18.98, which means MMM is trading at a discount to the group.
Also, we should mention that MMM has a PEG ratio of 1.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MMM's industry had an average PEG ratio of 1.67 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.