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3M (MMM) Stock Sinks As Market Gains: What You Should Know
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3M (MMM - Free Report) closed at $176.55 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500's 2.07% gain on the day. Elsewhere, the Dow gained 1.4%, while the tech-heavy Nasdaq added 0.49%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 2.39% over the past month. This has was narrower than the Conglomerates sector's loss of 3.15% and lagged the S&P 500's loss of 2.08% in that time.
3M will be looking to display strength as it nears its next earnings release. In that report, analysts expect 3M to post earnings of $2.07 per share. This would mark a year-over-year decline of 13.03%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.66 billion, up 0.88% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.87 per share and revenue of $35.35 billion. These results would represent year-over-year changes of +12.93% and +9.83%, respectively.
Investors might also notice recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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 remained stagnant. 3M is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, 3M is holding a Forward P/E ratio of 17.95. This represents a no noticeable deviation compared to its industry's average Forward P/E of 17.95.
Meanwhile, MMM's PEG ratio is currently 1.89. 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 1.7 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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) Stock Sinks As Market Gains: What You Should Know
3M (MMM - Free Report) closed at $176.55 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500's 2.07% gain on the day. Elsewhere, the Dow gained 1.4%, while the tech-heavy Nasdaq added 0.49%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 2.39% over the past month. This has was narrower than the Conglomerates sector's loss of 3.15% and lagged the S&P 500's loss of 2.08% in that time.
3M will be looking to display strength as it nears its next earnings release. In that report, analysts expect 3M to post earnings of $2.07 per share. This would mark a year-over-year decline of 13.03%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.66 billion, up 0.88% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.87 per share and revenue of $35.35 billion. These results would represent year-over-year changes of +12.93% and +9.83%, respectively.
Investors might also notice recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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 remained stagnant. 3M is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, 3M is holding a Forward P/E ratio of 17.95. This represents a no noticeable deviation compared to its industry's average Forward P/E of 17.95.
Meanwhile, MMM's PEG ratio is currently 1.89. 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 1.7 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.