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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 $121.59, marking a -1.51% move from the previous day. This move lagged the S&P 500's daily loss of 1.45%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 5.88%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 3.55% over the past month, lagging the Conglomerates sector's loss of 1.29% and the S&P 500's loss of 1.68% in that time.
3M will be looking to display strength as it nears its next earnings release. In that report, analysts expect 3M to post earnings of $2.41 per share. This would mark year-over-year growth of 4.33%. Our most recent consensus estimate is calling for quarterly revenue of $8.13 billion, down 5.63% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $10.22 per share and revenue of $34.24 billion. These results would represent year-over-year changes of +0.99% and -3.15%, respectively.
It is also important to note the recent changes to analyst estimates for 3M. Recent revisions tend to reflect the latest near-term business trends. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 3M is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 12.08. Its industry sports an average Forward P/E of 14.73, so we one might conclude that 3M is trading at a discount comparatively.
We can also see that MMM currently has a PEG ratio of 1.27. 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. The Diversified Operations industry currently had an average PEG ratio of 1.75 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $121.59, marking a -1.51% move from the previous day. This move lagged the S&P 500's daily loss of 1.45%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 5.88%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 3.55% over the past month, lagging the Conglomerates sector's loss of 1.29% and the S&P 500's loss of 1.68% in that time.
3M will be looking to display strength as it nears its next earnings release. In that report, analysts expect 3M to post earnings of $2.41 per share. This would mark year-over-year growth of 4.33%. Our most recent consensus estimate is calling for quarterly revenue of $8.13 billion, down 5.63% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $10.22 per share and revenue of $34.24 billion. These results would represent year-over-year changes of +0.99% and -3.15%, respectively.
It is also important to note the recent changes to analyst estimates for 3M. Recent revisions tend to reflect the latest near-term business trends. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 3M is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 12.08. Its industry sports an average Forward P/E of 14.73, so we one might conclude that 3M is trading at a discount comparatively.
We can also see that MMM currently has a PEG ratio of 1.27. 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. The Diversified Operations industry currently had an average PEG ratio of 1.75 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.