We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
3M (MMM) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
3M (MMM - Free Report) closed the most recent trading day at $109.32, moving -0.34% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.56%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 10.72% over the past month, outpacing the Conglomerates sector's gain of 7.99% and the S&P 500's gain of 5.24% in that time.
Market participants will be closely following the financial results of 3M in its upcoming release. It is anticipated that the company will report an EPS of $2.32, marking a 1.75% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $7.68 billion, down 4.99% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.12 per share and a revenue of $31.76 billion, signifying shifts of -9.7% and -7.23%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for 3M. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, 3M boasts a Zacks Rank of #2 (Buy).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 12.03. For comparison, its industry has an average Forward P/E of 17.72, which means 3M is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 1.64 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Diversified Operations industry stood at 2.55 at the close of the market yesterday.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
3M (MMM) Dips More Than Broader Market: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $109.32, moving -0.34% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.56%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 10.72% over the past month, outpacing the Conglomerates sector's gain of 7.99% and the S&P 500's gain of 5.24% in that time.
Market participants will be closely following the financial results of 3M in its upcoming release. It is anticipated that the company will report an EPS of $2.32, marking a 1.75% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $7.68 billion, down 4.99% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.12 per share and a revenue of $31.76 billion, signifying shifts of -9.7% and -7.23%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for 3M. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, 3M boasts a Zacks Rank of #2 (Buy).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 12.03. For comparison, its industry has an average Forward P/E of 17.72, which means 3M is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 1.64 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Diversified Operations industry stood at 2.55 at the close of the market yesterday.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.