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3M (MMM) Gains But Lags Market: What You Should Know
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3M (MMM - Free Report) closed at $177.74 in the latest trading session, marking a +0.06% move from the prior day. This change lagged the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 2.92% in the past month. In that same time, the Conglomerates sector gained 2.56%, while the S&P 500 gained 4.56%.
3M will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.18, down 8.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.66 billion, up 0.88% from the prior-year quarter.
Any recent changes to analyst estimates for 3M should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. 3M is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 18.01. For comparison, its industry has an average Forward P/E of 18.01, which means 3M is trading at a no noticeable deviation to the group.
Also, we should mention that MMM has a PEG ratio of 1.9. 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. MMM's industry had an average PEG ratio of 1.74 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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3M (MMM) Gains But Lags Market: What You Should Know
3M (MMM - Free Report) closed at $177.74 in the latest trading session, marking a +0.06% move from the prior day. This change lagged the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 2.92% in the past month. In that same time, the Conglomerates sector gained 2.56%, while the S&P 500 gained 4.56%.
3M will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.18, down 8.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.66 billion, up 0.88% from the prior-year quarter.
Any recent changes to analyst estimates for 3M should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. 3M is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 18.01. For comparison, its industry has an average Forward P/E of 18.01, which means 3M is trading at a no noticeable deviation to the group.
Also, we should mention that MMM has a PEG ratio of 1.9. 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. MMM's industry had an average PEG ratio of 1.74 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.