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3M (MMM) Gains As Market Dips: What You Should Know
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In the latest trading session, 3M (MMM - Free Report) closed at $177.64, marking a +0.53% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.27% over the past month. This has outpaced the Conglomerates sector's loss of 0.08% and lagged the S&P 500's gain of 4.4% in that time.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. In that report, analysts expect 3M to post earnings of $2.06 per share. This would mark a year-over-year decline of 13.45%. Our most recent consensus estimate is calling for quarterly revenue of $8.66 billion, up 0.88% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.86 per share and revenue of $35.48 billion. These results would represent year-over-year changes of +12.81% and +10.23%, respectively.
It is also important to note the recent changes to analyst estimates for 3M. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.07% lower within the past month. 3M is currently a Zacks Rank #3 (Hold).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 17.91. This represents a no noticeable deviation compared to its industry's average Forward P/E of 17.91.
We can also see that MMM currently has a PEG ratio of 1.89. 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 1.75 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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) Gains As Market Dips: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $177.64, marking a +0.53% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.27% over the past month. This has outpaced the Conglomerates sector's loss of 0.08% and lagged the S&P 500's gain of 4.4% in that time.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. In that report, analysts expect 3M to post earnings of $2.06 per share. This would mark a year-over-year decline of 13.45%. Our most recent consensus estimate is calling for quarterly revenue of $8.66 billion, up 0.88% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.86 per share and revenue of $35.48 billion. These results would represent year-over-year changes of +12.81% and +10.23%, respectively.
It is also important to note the recent changes to analyst estimates for 3M. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.07% lower within the past month. 3M is currently a Zacks Rank #3 (Hold).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 17.91. This represents a no noticeable deviation compared to its industry's average Forward P/E of 17.91.
We can also see that MMM currently has a PEG ratio of 1.89. 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 1.75 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.