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3M (MMM) Outpaces Stock Market Gains: What You Should Know
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3M (MMM - Free Report) closed the most recent trading day at $172.46, moving +1.36% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 0.5%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 4.11% over the past month, lagging the Conglomerates sector's gain of 7.77% and the S&P 500's gain of 5.42% in that time.
Wall Street will be looking for positivity from MMM as it approaches its next earnings report date. The company is expected to report EPS of $2.25, up 15.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.25 billion, up 1.72% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.61 per share and revenue of $31.91 billion. These results would represent year-over-year changes of -5.38% and -0.71%, respectively.
It is also important to note the recent changes to analyst estimates for MMM. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.53% higher within the past month. MMM is currently a Zacks Rank #2 (Buy).
Digging into valuation, MMM currently has a Forward P/E ratio of 19.76. For comparison, its industry has an average Forward P/E of 19.76, which means MMM is trading at a no noticeable deviation to the group.
Meanwhile, MMM's PEG ratio is currently 2.08. 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. The Diversified Operations industry currently had an average PEG ratio of 2.08 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 48% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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3M (MMM) Outpaces Stock Market Gains: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $172.46, moving +1.36% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 0.5%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 4.11% over the past month, lagging the Conglomerates sector's gain of 7.77% and the S&P 500's gain of 5.42% in that time.
Wall Street will be looking for positivity from MMM as it approaches its next earnings report date. The company is expected to report EPS of $2.25, up 15.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.25 billion, up 1.72% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.61 per share and revenue of $31.91 billion. These results would represent year-over-year changes of -5.38% and -0.71%, respectively.
It is also important to note the recent changes to analyst estimates for MMM. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.53% higher within the past month. MMM is currently a Zacks Rank #2 (Buy).
Digging into valuation, MMM currently has a Forward P/E ratio of 19.76. For comparison, its industry has an average Forward P/E of 19.76, which means MMM is trading at a no noticeable deviation to the group.
Meanwhile, MMM's PEG ratio is currently 2.08. 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. The Diversified Operations industry currently had an average PEG ratio of 2.08 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 48% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.