We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Unlocking Q3 Potential of 3M (MMM): Exploring Wall Street Estimates for Key Metrics
Read MoreHide Full Article
Wall Street analysts forecast that 3M (MMM - Free Report) will report quarterly earnings of $2.10 per share in its upcoming release, pointing to a year-over-year increase of 6.1%. It is anticipated that revenues will amount to $6.25 billion, exhibiting a decrease of 0.7% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific 3M metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Net Sales- Safety and Industrial' will reach $2.90 billion. The estimate indicates a year-over-year change of +4.8%.
Based on the collective assessment of analysts, 'Net Sales- Corporate and Unallocated' should arrive at $86.00 million. The estimate suggests a change of +6.2% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- Consumer' of $1.31 billion. The estimate indicates a year-over-year change of +0.8%.
According to the collective judgment of analysts, 'Operating Income (non-GAAP measures)- Consumer' should come in at $269.96 million. Compared to the present estimate, the company reported $263.00 million in the same quarter last year.
The combined assessment of analysts suggests that 'Operating Income (non-GAAP measures)- Transportation and Electronics' will likely reach $461.65 million. The estimate compares to the year-ago value of $470.00 million.
Analysts expect 'Operating Income (non-GAAP measures)- Safety and Industrial' to come in at $729.60 million. The estimate is in contrast to the year-ago figure of $672.00 million.
Over the past month, shares of 3M have returned -1.1% versus the Zacks S&P 500 composite's +0.9% change. Currently, MMM carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Unlocking Q3 Potential of 3M (MMM): Exploring Wall Street Estimates for Key Metrics
Wall Street analysts forecast that 3M (MMM - Free Report) will report quarterly earnings of $2.10 per share in its upcoming release, pointing to a year-over-year increase of 6.1%. It is anticipated that revenues will amount to $6.25 billion, exhibiting a decrease of 0.7% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific 3M metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Net Sales- Safety and Industrial' will reach $2.90 billion. The estimate indicates a year-over-year change of +4.8%.
Based on the collective assessment of analysts, 'Net Sales- Corporate and Unallocated' should arrive at $86.00 million. The estimate suggests a change of +6.2% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- Consumer' of $1.31 billion. The estimate indicates a year-over-year change of +0.8%.
According to the collective judgment of analysts, 'Operating Income (non-GAAP measures)- Consumer' should come in at $269.96 million. Compared to the present estimate, the company reported $263.00 million in the same quarter last year.
The combined assessment of analysts suggests that 'Operating Income (non-GAAP measures)- Transportation and Electronics' will likely reach $461.65 million. The estimate compares to the year-ago value of $470.00 million.
Analysts expect 'Operating Income (non-GAAP measures)- Safety and Industrial' to come in at $729.60 million. The estimate is in contrast to the year-ago figure of $672.00 million.
View all Key Company Metrics for 3M here>>>Over the past month, shares of 3M have returned -1.1% versus the Zacks S&P 500 composite's +0.9% change. Currently, MMM carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .