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3M (MMM) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, 3M (MMM - Free Report) closed at $177.41, marking a -1.41% move from the previous day. This change lagged the S&P 500's daily loss of 0.14%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.02%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.61% over the past month. This has outpaced the Conglomerates sector's loss of 0.19% and the S&P 500's loss of 0.13% in that time.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. On that day, 3M is projected to report earnings of $2.06 per share, which would represent a year-over-year decline of 13.45%. Meanwhile, our latest consensus estimate is calling for revenue of $8.66 billion, up 0.88% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for 3M. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. 3M currently has a Zacks Rank of #4 (Sell).
Digging into valuation, 3M currently has a Forward P/E ratio of 17.15. This valuation marks a discount compared to its industry's average Forward P/E of 18.12.
Meanwhile, MMM's PEG ratio is currently 1.8. 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 1.33 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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3M (MMM) Dips More Than Broader Markets: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $177.41, marking a -1.41% move from the previous day. This change lagged the S&P 500's daily loss of 0.14%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.02%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.61% over the past month. This has outpaced the Conglomerates sector's loss of 0.19% and the S&P 500's loss of 0.13% in that time.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. On that day, 3M is projected to report earnings of $2.06 per share, which would represent a year-over-year decline of 13.45%. Meanwhile, our latest consensus estimate is calling for revenue of $8.66 billion, up 0.88% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for 3M. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. 3M currently has a Zacks Rank of #4 (Sell).
Digging into valuation, 3M currently has a Forward P/E ratio of 17.15. This valuation marks a discount compared to its industry's average Forward P/E of 18.12.
Meanwhile, MMM's PEG ratio is currently 1.8. 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 1.33 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.