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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 $106.08, marking a -0.18% move from the previous day. This change lagged the S&P 500's daily loss of 0.01%. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.97%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.9% over the past month, lagging the Conglomerates sector's gain of 5.71% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from 3M as it approaches its next earnings release, which is expected to be April 25, 2023. In that report, analysts expect 3M to post earnings of $1.59 per share. This would mark a year-over-year decline of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.47 billion, down 15.36% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.65 per share and revenue of $31.86 billion. These totals would mark changes of -14.36% and -6.91%, respectively, from last 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. 3M currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, 3M is holding a Forward P/E ratio of 12.29. This represents a discount compared to its industry's average Forward P/E of 16.
Investors should also note that MMM has a PEG ratio of 1.29 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. The Diversified Operations industry currently had an average PEG ratio of 1.55 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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 $106.08, marking a -0.18% move from the previous day. This change lagged the S&P 500's daily loss of 0.01%. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.97%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.9% over the past month, lagging the Conglomerates sector's gain of 5.71% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from 3M as it approaches its next earnings release, which is expected to be April 25, 2023. In that report, analysts expect 3M to post earnings of $1.59 per share. This would mark a year-over-year decline of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.47 billion, down 15.36% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.65 per share and revenue of $31.86 billion. These totals would mark changes of -14.36% and -6.91%, respectively, from last 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. 3M currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, 3M is holding a Forward P/E ratio of 12.29. This represents a discount compared to its industry's average Forward P/E of 16.
Investors should also note that MMM has a PEG ratio of 1.29 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. The Diversified Operations industry currently had an average PEG ratio of 1.55 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.