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3M (MMM) Rises But Trails Market: What Investors Should Know
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The most recent trading session ended with 3M (MMM - Free Report) standing at $106.44, reflecting a +0.34% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.88% gain on the day. Meanwhile, the Dow experienced a rise of 0.54%, and the technology-dominated Nasdaq saw an increase of 1.35%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 2.32% over the past month. This has outpaced the Conglomerates sector's loss of 5.28% and the S&P 500's gain of 0.64% in that time.
The upcoming earnings release of 3M will be of great interest to investors. The company's earnings report is expected on January 23, 2024. In that report, analysts expect 3M to post earnings of $2.31 per share. This would mark year-over-year growth of 1.32%. In the meantime, our current consensus estimate forecasts the revenue to be $7.69 billion, indicating a 4.86% decline compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for 3M. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.21% fall in the Zacks Consensus EPS estimate. 3M presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, 3M is currently exchanging hands at a Forward P/E ratio of 10.72. This expresses a discount compared to the average Forward P/E of 15.44 of its industry.
Meanwhile, MMM's PEG ratio is currently 1.48. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 2.22 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 60, positioning it in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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3M (MMM) Rises But Trails Market: What Investors Should Know
The most recent trading session ended with 3M (MMM - Free Report) standing at $106.44, reflecting a +0.34% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.88% gain on the day. Meanwhile, the Dow experienced a rise of 0.54%, and the technology-dominated Nasdaq saw an increase of 1.35%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 2.32% over the past month. This has outpaced the Conglomerates sector's loss of 5.28% and the S&P 500's gain of 0.64% in that time.
The upcoming earnings release of 3M will be of great interest to investors. The company's earnings report is expected on January 23, 2024. In that report, analysts expect 3M to post earnings of $2.31 per share. This would mark year-over-year growth of 1.32%. In the meantime, our current consensus estimate forecasts the revenue to be $7.69 billion, indicating a 4.86% decline compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for 3M. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.21% fall in the Zacks Consensus EPS estimate. 3M presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, 3M is currently exchanging hands at a Forward P/E ratio of 10.72. This expresses a discount compared to the average Forward P/E of 15.44 of its industry.
Meanwhile, MMM's PEG ratio is currently 1.48. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 2.22 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 60, positioning it in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.