We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
3M (MMM) Outperforms Broader Market: What You Need to Know
Read MoreHide Full Article
In the latest market close, 3M (MMM - Free Report) reached $93.19, with a +0.38% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.11% for the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.23%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.16% over the past month, outpacing the Conglomerates sector's loss of 4.65% and lagging the S&P 500's gain of 1.5% in that time.
Analysts and investors alike will be keeping a close eye on the performance of 3M in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.09, indicating a 6.09% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.77 billion, indicating a 3.22% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.37 per share and a revenue of $32.52 billion, indicating changes of +1.41% and -0.5%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for 3M. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 has moved 4.08% lower within the past month. As of now, 3M holds a Zacks Rank of #3 (Hold).
With respect to valuation, 3M is currently being traded at a Forward P/E ratio of 9.91. This indicates a discount in contrast to its industry's Forward P/E of 18.19.
It's also important to note that MMM currently trades at a PEG ratio of 1.37. 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 had an average PEG ratio of 1.81 as trading concluded yesterday.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
3M (MMM) Outperforms Broader Market: What You Need to Know
In the latest market close, 3M (MMM - Free Report) reached $93.19, with a +0.38% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.11% for the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.23%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.16% over the past month, outpacing the Conglomerates sector's loss of 4.65% and lagging the S&P 500's gain of 1.5% in that time.
Analysts and investors alike will be keeping a close eye on the performance of 3M in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.09, indicating a 6.09% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.77 billion, indicating a 3.22% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.37 per share and a revenue of $32.52 billion, indicating changes of +1.41% and -0.5%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for 3M. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 has moved 4.08% lower within the past month. As of now, 3M holds a Zacks Rank of #3 (Hold).
With respect to valuation, 3M is currently being traded at a Forward P/E ratio of 9.91. This indicates a discount in contrast to its industry's Forward P/E of 18.19.
It's also important to note that MMM currently trades at a PEG ratio of 1.37. 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 had an average PEG ratio of 1.81 as trading concluded yesterday.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.