We have issued an updated research report on 3M Company (MMM - Free Report) on May 13.
This conglomerate currently carries a Zacks Rank #4 (Sell). Its market capitalization is approximately $101.4 billion.
Let’s delve deeper and discuss what led to the company’s poor investment appeal.
Share Price Performances & Earnings Estimate Revision: Market sentiments have been against 3M for quite some time now. Its stock price has decreased roughly 16.7% in the past three months against the industry’s growth of 1.7%.
It is worth noting here that the company recorded weaker-than-expected results for the first quarter of 2019, with earnings and sales lagging estimates by 10.8% and 2.8%, respectively. The company’s stock price has decreased roughly 8.7% since the earnings results released on Apr 25, 2019.
Furthermore, earnings estimates for the company for 2019 and 2020 have been lowered in the past 30 days. Currently, the Zacks Consensus Estimate is pegged at $9.57 for 2019 and $10.54 for 2020, reflecting a decline of 8.9% and 7.3% from respective 30-day-ago numbers.
3M Company Price and Consensus