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3M (MMM) Gains But Lags Market: What You Should Know
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3M (MMM - Free Report) closed at $113.86 in the latest trading session, marking a +0.2% move from the prior day. This change lagged the S&P 500's 2.65% gain on the day. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 2.56% over the past month. This has was narrower than the Conglomerates sector's loss of 6.56% and the S&P 500's loss of 8.99% in that time.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. This is expected to be October 25, 2022. In that report, analysts expect 3M to post earnings of $2.61 per share. This would mark year-over-year growth of 6.53%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.7 billion, down 2.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.34 per share and revenue of $34.86 billion. These totals would mark changes of +2.17% and -1.4%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for 3M. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.75% lower within the past month. 3M currently has a Zacks Rank of #3 (Hold).
Digging into valuation, 3M currently has a Forward P/E ratio of 10.99. For comparison, its industry has an average Forward P/E of 14.84, which means 3M is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 1.16 right now. 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 1.47 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 at $113.86 in the latest trading session, marking a +0.2% move from the prior day. This change lagged the S&P 500's 2.65% gain on the day. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 2.56% over the past month. This has was narrower than the Conglomerates sector's loss of 6.56% and the S&P 500's loss of 8.99% in that time.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. This is expected to be October 25, 2022. In that report, analysts expect 3M to post earnings of $2.61 per share. This would mark year-over-year growth of 6.53%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.7 billion, down 2.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.34 per share and revenue of $34.86 billion. These totals would mark changes of +2.17% and -1.4%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for 3M. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.75% lower within the past month. 3M currently has a Zacks Rank of #3 (Hold).
Digging into valuation, 3M currently has a Forward P/E ratio of 10.99. For comparison, its industry has an average Forward P/E of 14.84, which means 3M is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 1.16 right now. 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 1.47 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.