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3M (MMM) Dips More Than Broader Markets: What You Should Know
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3M (MMM - Free Report) closed the most recent trading day at $169.17, moving -1.04% from the previous trading session. This move lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 5.3% over the past month. This has lagged the Conglomerates sector's gain of 5.68% and outpaced the S&P 500's gain of 3.82% in that time.
Investors will be hoping for strength from MMM as it approaches its next earnings release, which is expected to be October 27, 2020. The company is expected to report EPS of $2.25, down 12.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.50 billion, up 6.31% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.37 per share and revenue of $32.03 billion, which would represent changes of -8.02% and -0.34%, respectively, from the prior year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.26% higher. MMM is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, MMM currently has a Forward P/E ratio of 20.42. This valuation marks a premium compared to its industry's average Forward P/E of 17.84.
Investors should also note that MMM has a PEG ratio of 2.15 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 2.72 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.
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3M (MMM) Dips More Than Broader Markets: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $169.17, moving -1.04% from the previous trading session. This move lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 5.3% over the past month. This has lagged the Conglomerates sector's gain of 5.68% and outpaced the S&P 500's gain of 3.82% in that time.
Investors will be hoping for strength from MMM as it approaches its next earnings release, which is expected to be October 27, 2020. The company is expected to report EPS of $2.25, down 12.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.50 billion, up 6.31% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.37 per share and revenue of $32.03 billion, which would represent changes of -8.02% and -0.34%, respectively, from the prior year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.26% higher. MMM is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, MMM currently has a Forward P/E ratio of 20.42. This valuation marks a premium compared to its industry's average Forward P/E of 17.84.
Investors should also note that MMM has a PEG ratio of 2.15 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 2.72 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.