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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 $155.99, moving +0.27% from the previous trading session. This change lagged the S&P 500's 1.54% gain on the day. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 1.87%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 0.01% over the past month. This has lagged the Conglomerates sector's gain of 1.01% and the S&P 500's gain of 0.57% in that time.
Investors will be hoping for strength from MMM as it approaches its next earnings release, which is expected to be July 28, 2020. The company is expected to report EPS of $1.98, down 10% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7 billion, down 14.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.91 per share and revenue of $30.43 billion. These totals would mark changes of -13.08% and -5.32%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MMM. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.14% lower. MMM is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, MMM currently has a Forward P/E ratio of 19.67. Its industry sports an average Forward P/E of 19.67, so we one might conclude that MMM is trading at a no noticeable deviation comparatively.
Investors should also note that MMM has a PEG ratio of 2.07 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 3.32 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 the most recent trading day at $155.99, moving +0.27% from the previous trading session. This change lagged the S&P 500's 1.54% gain on the day. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 1.87%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 0.01% over the past month. This has lagged the Conglomerates sector's gain of 1.01% and the S&P 500's gain of 0.57% in that time.
Investors will be hoping for strength from MMM as it approaches its next earnings release, which is expected to be July 28, 2020. The company is expected to report EPS of $1.98, down 10% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7 billion, down 14.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.91 per share and revenue of $30.43 billion. These totals would mark changes of -13.08% and -5.32%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MMM. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.14% lower. MMM is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, MMM currently has a Forward P/E ratio of 19.67. Its industry sports an average Forward P/E of 19.67, so we one might conclude that MMM is trading at a no noticeable deviation comparatively.
Investors should also note that MMM has a PEG ratio of 2.07 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 3.32 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.