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3M (MMM) Stock Moves -0.96%: What You Should Know

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3M (MMM - Free Report) closed at $180.05 in the latest trading session, marking a -0.96% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.04%.

Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 7.33% over the past month. This has lagged the Conglomerates sector's loss of 3.37% and the S&P 500's loss of 1.36% in that time.

MMM will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2021. In that report, analysts expect MMM to post earnings of $2.28 per share. This would mark a year-over-year decline of 6.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.89 billion, up 6.45% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $9.92 per share and revenue of $35.3 billion, which would represent changes of +13.5% and +9.68%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for MMM. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.85% 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 18.32 right now. This valuation marks a discount compared to its industry's average Forward P/E of 20.21.

We can also see that MMM currently has a PEG ratio of 1.93. 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 1.93 as of yesterday's close.

The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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