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3M (MMM) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, 3M (MMM - Free Report) closed at $200.82, marking a +1.65% move from the previous day. This move outpaced the S&P 500's daily gain of 1.52%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.2% in the past month. In that same time, the Conglomerates sector gained 3.97%, while the S&P 500 gained 2.41%.
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. In that report, analysts expect MMM to post earnings of $2.25 per share. This would mark year-over-year growth of 26.4%. Meanwhile, our latest consensus estimate is calling for revenue of $8.54 billion, up 18.99% from the prior-year quarter.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.78 per share and revenue of $35.1 billion. These results would represent year-over-year changes of +11.9% and +9.06%, respectively.
It is also important to note the recent changes to analyst estimates for MMM. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.03% 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 20.19. For comparison, its industry has an average Forward P/E of 20.42, which means MMM is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 2.13 right now. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.77 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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3M (MMM) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $200.82, marking a +1.65% move from the previous day. This move outpaced the S&P 500's daily gain of 1.52%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.2% in the past month. In that same time, the Conglomerates sector gained 3.97%, while the S&P 500 gained 2.41%.
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. In that report, analysts expect MMM to post earnings of $2.25 per share. This would mark year-over-year growth of 26.4%. Meanwhile, our latest consensus estimate is calling for revenue of $8.54 billion, up 18.99% from the prior-year quarter.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.78 per share and revenue of $35.1 billion. These results would represent year-over-year changes of +11.9% and +9.06%, respectively.
It is also important to note the recent changes to analyst estimates for MMM. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.03% 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 20.19. For comparison, its industry has an average Forward P/E of 20.42, which means MMM is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 2.13 right now. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.77 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.