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In the latest trading session, 3M (MMM - Free Report) closed at $116.42, marking a -0.94% move from the previous day. This change was narrower than the S&P 500's 1.13% loss on the day. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 20.28% in the past month. In that same time, the Conglomerates sector lost 9.75%, while the S&P 500 lost 7.59%.
3M will be looking to display strength as it nears its next earnings release. On that day, 3M is projected to report earnings of $2.71 per share, which would represent year-over-year growth of 10.61%. Our most recent consensus estimate is calling for quarterly revenue of $8.76 billion, down 2.06% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.42 per share and revenue of $35.05 billion, which would represent changes of +2.96% and -0.85%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. 3M currently has a Zacks Rank of #3 (Hold).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 11.28. This valuation marks a discount compared to its industry's average Forward P/E of 15.89.
It is also worth noting that MMM currently has a PEG ratio of 1.19. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 1.61 as of yesterday's close.
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 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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3M (MMM) Stock Moves -0.94%: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $116.42, marking a -0.94% move from the previous day. This change was narrower than the S&P 500's 1.13% loss on the day. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 20.28% in the past month. In that same time, the Conglomerates sector lost 9.75%, while the S&P 500 lost 7.59%.
3M will be looking to display strength as it nears its next earnings release. On that day, 3M is projected to report earnings of $2.71 per share, which would represent year-over-year growth of 10.61%. Our most recent consensus estimate is calling for quarterly revenue of $8.76 billion, down 2.06% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.42 per share and revenue of $35.05 billion, which would represent changes of +2.96% and -0.85%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. 3M currently has a Zacks Rank of #3 (Hold).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 11.28. This valuation marks a discount compared to its industry's average Forward P/E of 15.89.
It is also worth noting that MMM currently has a PEG ratio of 1.19. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 1.61 as of yesterday's close.
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 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.
You can find more information on all of these metrics, and much more, on Zacks.com.