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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 $122.13, marking a +0.36% move from the previous day. This change outpaced the S&P 500's 0.9% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4% over the past month, lagging the Conglomerates sector's loss of 3.34% and the S&P 500's loss of 2.66% in that time.
3M will be looking to display strength as it nears its next earnings release. On that day, 3M is projected to report earnings of $2.41 per share, which would represent year-over-year growth of 4.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.13 billion, down 5.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.22 per share and revenue of $34.24 billion, which would represent changes of +0.99% and -3.15%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for 3M. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 remained stagnant. 3M is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, 3M currently has a Forward P/E ratio of 11.91. This represents a discount compared to its industry's average Forward P/E of 14.81.
Investors should also note that MMM has a PEG ratio of 1.25 right now. 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 1.72 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 95, which puts it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many 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 $122.13, marking a +0.36% move from the previous day. This change outpaced the S&P 500's 0.9% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4% over the past month, lagging the Conglomerates sector's loss of 3.34% and the S&P 500's loss of 2.66% in that time.
3M will be looking to display strength as it nears its next earnings release. On that day, 3M is projected to report earnings of $2.41 per share, which would represent year-over-year growth of 4.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.13 billion, down 5.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.22 per share and revenue of $34.24 billion, which would represent changes of +0.99% and -3.15%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for 3M. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 remained stagnant. 3M is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, 3M currently has a Forward P/E ratio of 11.91. This represents a discount compared to its industry's average Forward P/E of 14.81.
Investors should also note that MMM has a PEG ratio of 1.25 right now. 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 1.72 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 95, which puts it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.