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3M (MMM) Stock Sinks As Market Gains: What You Should Know
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3M (MMM - Free Report) closed the most recent trading day at $101.95, moving -0.77% from the previous trading session. This change lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 0.61%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 4.83% over the past month. This has lagged the Conglomerates sector's gain of 5.44% and the S&P 500's gain of 6.1% 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 $1.69 per share, which would represent a year-over-year decline of 31.85%. Our most recent consensus estimate is calling for quarterly revenue of $7.84 billion, down 9.91% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.66 per share and revenue of $32.12 billion. These results would represent year-over-year changes of -14.26% and -6.15%, respectively.
Any recent changes to analyst estimates for 3M should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 11.87. This represents a discount compared to its industry's average Forward P/E of 16.05.
Meanwhile, MMM's PEG ratio is currently 1.25. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Diversified Operations stocks are, on average, holding a PEG ratio of 1.79 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 116, which puts it in the top 47% 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.
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3M (MMM) Stock Sinks As Market Gains: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $101.95, moving -0.77% from the previous trading session. This change lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 0.61%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 4.83% over the past month. This has lagged the Conglomerates sector's gain of 5.44% and the S&P 500's gain of 6.1% 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 $1.69 per share, which would represent a year-over-year decline of 31.85%. Our most recent consensus estimate is calling for quarterly revenue of $7.84 billion, down 9.91% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.66 per share and revenue of $32.12 billion. These results would represent year-over-year changes of -14.26% and -6.15%, respectively.
Any recent changes to analyst estimates for 3M should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 11.87. This represents a discount compared to its industry's average Forward P/E of 16.05.
Meanwhile, MMM's PEG ratio is currently 1.25. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Diversified Operations stocks are, on average, holding a PEG ratio of 1.79 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 116, which puts it in the top 47% 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.