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What Analyst Projections for Key Metrics Reveal About 3M (MMM) Q3 Earnings
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Wall Street analysts expect 3M (MMM - Free Report) to post quarterly earnings of $1.93 per share in its upcoming report, which indicates a year-over-year decline of 28%. Revenues are expected to be $6.1 billion, down 26.6% from the year-ago quarter.
The current level reflects an upward revision of 2.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain 3M metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net Sales- Safety and Industrial' to come in at $2.79 billion. The estimate points to a change of +1.4% from the year-ago quarter.
It is projected by analysts that the 'Net Sales- Consumer' will reach $1.31 billion. The estimate indicates a year-over-year change of -0.7%.
The average prediction of analysts places 'Net Sales- Transportation and Electronics' at $1.92 billion. The estimate suggests a change of -11.5% year over year.
According to the collective judgment of analysts, 'Operating Income (non-GAAP measures)- Consumer' should come in at $245.47 million. Compared to the present estimate, the company reported $269 million in the same quarter last year.
Shares of 3M have demonstrated returns of +2.2% over the past month compared to the Zacks S&P 500 composite's +3.8% change. With a Zacks Rank #3 (Hold), MMM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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What Analyst Projections for Key Metrics Reveal About 3M (MMM) Q3 Earnings
Wall Street analysts expect 3M (MMM - Free Report) to post quarterly earnings of $1.93 per share in its upcoming report, which indicates a year-over-year decline of 28%. Revenues are expected to be $6.1 billion, down 26.6% from the year-ago quarter.
The current level reflects an upward revision of 2.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain 3M metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net Sales- Safety and Industrial' to come in at $2.79 billion. The estimate points to a change of +1.4% from the year-ago quarter.
It is projected by analysts that the 'Net Sales- Consumer' will reach $1.31 billion. The estimate indicates a year-over-year change of -0.7%.
The average prediction of analysts places 'Net Sales- Transportation and Electronics' at $1.92 billion. The estimate suggests a change of -11.5% year over year.
According to the collective judgment of analysts, 'Operating Income (non-GAAP measures)- Consumer' should come in at $245.47 million. Compared to the present estimate, the company reported $269 million in the same quarter last year.
View all Key Company Metrics for 3M here>>>
Shares of 3M have demonstrated returns of +2.2% over the past month compared to the Zacks S&P 500 composite's +3.8% change. With a Zacks Rank #3 (Hold), MMM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>