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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 $196.50, moving +0.9% from the previous trading session. This change outpaced the S&P 500's 0.23% gain on the day.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4.08% in the past month. In that same time, the Conglomerates sector gained 0.32%, while the S&P 500 gained 2.34%.
Wall Street will be looking for positivity from MMM as it approaches its next earnings report date. This is expected to be July 27, 2021. The company is expected to report EPS of $2.20, up 23.6% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.41 billion, up 17.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.78 per share and revenue of $34.99 billion, which would represent changes of +11.9% and +8.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MMM. These revisions help to show the ever-changing nature of near-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. 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.
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 0.51% higher within the past month. MMM is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, MMM currently has a Forward P/E ratio of 19.91. For comparison, its industry has an average Forward P/E of 20.42, which means MMM is trading at a discount to the group.
We can also see that MMM currently has a PEG ratio of 2.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Diversified Operations industry currently had an average PEG ratio of 1.66 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% 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.
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 $196.50, moving +0.9% from the previous trading session. This change outpaced the S&P 500's 0.23% gain on the day.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4.08% in the past month. In that same time, the Conglomerates sector gained 0.32%, while the S&P 500 gained 2.34%.
Wall Street will be looking for positivity from MMM as it approaches its next earnings report date. This is expected to be July 27, 2021. The company is expected to report EPS of $2.20, up 23.6% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.41 billion, up 17.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.78 per share and revenue of $34.99 billion, which would represent changes of +11.9% and +8.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MMM. These revisions help to show the ever-changing nature of near-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. 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.
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 0.51% higher within the past month. MMM is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, MMM currently has a Forward P/E ratio of 19.91. For comparison, its industry has an average Forward P/E of 20.42, which means MMM is trading at a discount to the group.
We can also see that MMM currently has a PEG ratio of 2.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Diversified Operations industry currently had an average PEG ratio of 1.66 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.