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 - Free Report) ended the recent trading session at $90.96, demonstrating a -0.1% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.58%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq decreased by 1.15%.
The maker of Post-it notes, industrial coatings and ceramics's shares have seen a decrease of 13.55% over the last month, not keeping up with the Conglomerates sector's loss of 8.26% and the S&P 500's loss of 1.09%.
Analysts and investors alike will be keeping a close eye on the performance of 3M in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. The company is forecasted to report an EPS of $2.08, showcasing a 5.58% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $7.64 billion, showing a 4.83% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.79 per share and revenue of $32.21 billion. These totals would mark changes of -4.87% and -1.43%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for 3M. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 9.98% fall in the Zacks Consensus EPS estimate. 3M is currently a Zacks Rank #3 (Hold).
From a valuation perspective, 3M is currently exchanging hands at a Forward P/E ratio of 10.36. This denotes a discount relative to the industry's average Forward P/E of 17.3.
It is also worth noting that MMM currently has a PEG ratio of 1.61. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Diversified Operations industry had an average PEG ratio of 1.97.
The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 98, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
3M (MMM) Stock Moves -0.1%: What You Should Know
3M (MMM - Free Report) ended the recent trading session at $90.96, demonstrating a -0.1% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.58%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq decreased by 1.15%.
The maker of Post-it notes, industrial coatings and ceramics's shares have seen a decrease of 13.55% over the last month, not keeping up with the Conglomerates sector's loss of 8.26% and the S&P 500's loss of 1.09%.
Analysts and investors alike will be keeping a close eye on the performance of 3M in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. The company is forecasted to report an EPS of $2.08, showcasing a 5.58% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $7.64 billion, showing a 4.83% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.79 per share and revenue of $32.21 billion. These totals would mark changes of -4.87% and -1.43%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for 3M. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 9.98% fall in the Zacks Consensus EPS estimate. 3M is currently a Zacks Rank #3 (Hold).
From a valuation perspective, 3M is currently exchanging hands at a Forward P/E ratio of 10.36. This denotes a discount relative to the industry's average Forward P/E of 17.3.
It is also worth noting that MMM currently has a PEG ratio of 1.61. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Diversified Operations industry had an average PEG ratio of 1.97.
The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 98, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.