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3M (MMM) Gains As Market Dips: What You Should Know
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3M (MMM - Free Report) closed the most recent trading day at $102.29, moving +0.04% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq lost 1.88%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4.52% over the past month. This has lagged the Conglomerates sector's loss of 1.55% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from 3M as it approaches its next earnings release. The company is expected to report EPS of $1.59, down 40% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.47 billion, down 15.36% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.65 per share and revenue of $31.86 billion, which would represent changes of -14.36% and -6.91%, respectively, from the prior year.
Any recent changes to analyst estimates for 3M should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. 3M is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 11.82. This represents a discount compared to its industry's average Forward P/E of 17.07.
Investors should also note that MMM has a PEG ratio of 1.24 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. MMM's industry had an average PEG ratio of 1.53 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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3M (MMM) Gains As Market Dips: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $102.29, moving +0.04% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq lost 1.88%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4.52% over the past month. This has lagged the Conglomerates sector's loss of 1.55% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from 3M as it approaches its next earnings release. The company is expected to report EPS of $1.59, down 40% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.47 billion, down 15.36% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.65 per share and revenue of $31.86 billion, which would represent changes of -14.36% and -6.91%, respectively, from the prior year.
Any recent changes to analyst estimates for 3M should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. 3M is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 11.82. This represents a discount compared to its industry's average Forward P/E of 17.07.
Investors should also note that MMM has a PEG ratio of 1.24 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. MMM's industry had an average PEG ratio of 1.53 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.