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3M (MMM - Free Report) closed the most recent trading day at $104.37, moving -0.18% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.73% over the past month. This has outpaced the Conglomerates sector's gain of 1.59% and lagged the S&P 500's gain of 6.51% in that time.
3M will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.59, down 40% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.47 billion, down 15.36% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of 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. 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, 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 holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, 3M is holding a Forward P/E ratio of 12.09. For comparison, its industry has an average Forward P/E of 17.08, which means 3M is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 1.27 right now. 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 1.51 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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 -0.18%: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $104.37, moving -0.18% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.73% over the past month. This has outpaced the Conglomerates sector's gain of 1.59% and lagged the S&P 500's gain of 6.51% in that time.
3M will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.59, down 40% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.47 billion, down 15.36% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of 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. 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, 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 holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, 3M is holding a Forward P/E ratio of 12.09. For comparison, its industry has an average Forward P/E of 17.08, which means 3M is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 1.27 right now. 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 1.51 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.