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3M (MMM) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest trading session, 3M (MMM - Free Report) closed at $133.46, marking a -1.15% move from the previous day. This change lagged the S&P 500's 0.21% loss on the day. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.05%.
The the stock of maker of Post-it notes, industrial coatings and ceramics has risen by 3.67% in the past month, lagging the Conglomerates sector's gain of 13.72% and the S&P 500's gain of 5.94%.
The upcoming earnings release of 3M will be of great interest to investors. The company's earnings report is expected on October 22, 2024. The company is predicted to post an EPS of $1.93, indicating a 27.99% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $6.1 billion, down 26.61% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.24 per share and a revenue of $24.42 billion, indicating changes of -21.65% and -25.27%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.36% higher. 3M is currently a Zacks Rank #3 (Hold).
Digging into valuation, 3M currently has a Forward P/E ratio of 18.64. This signifies a premium in comparison to the average Forward P/E of 18.17 for its industry.
Meanwhile, MMM's PEG ratio is currently 2.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Diversified Operations stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
View the Zacks #1 Rank List
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3M (MMM) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, 3M (MMM - Free Report) closed at $133.46, marking a -1.15% move from the previous day. This change lagged the S&P 500's 0.21% loss on the day. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.05%.
The the stock of maker of Post-it notes, industrial coatings and ceramics has risen by 3.67% in the past month, lagging the Conglomerates sector's gain of 13.72% and the S&P 500's gain of 5.94%.
The upcoming earnings release of 3M will be of great interest to investors. The company's earnings report is expected on October 22, 2024. The company is predicted to post an EPS of $1.93, indicating a 27.99% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $6.1 billion, down 26.61% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.24 per share and a revenue of $24.42 billion, indicating changes of -21.65% and -25.27%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.36% higher. 3M is currently a Zacks Rank #3 (Hold).
Digging into valuation, 3M currently has a Forward P/E ratio of 18.64. This signifies a premium in comparison to the average Forward P/E of 18.17 for its industry.
Meanwhile, MMM's PEG ratio is currently 2.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Diversified Operations stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.