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3M (MMM) Stock Sinks As Market Gains: What You Should Know
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3M (MMM - Free Report) closed at $147.87 in the latest trading session, marking a -0.75% move from the prior day. This change lagged the S&P 500's 1.45% gain on the day. Meanwhile, the Dow gained 1.22%, and the Nasdaq, a tech-heavy index, added 0.78%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.19% over the past month, outpacing the Conglomerates sector's loss of 24.12% and the S&P 500's loss of 7.42% in that time.
Investors will be hoping for strength from MMM as it approaches its next earnings release. The company is expected to report EPS of $2.06, down 7.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.13 billion, up 3.45% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.44 per share and revenue of $32.06 billion, which would represent changes of -7.25% and -0.25%, respectively, from the prior year.
Any recent changes to analyst estimates for MMM should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.71% lower. MMM is currently a Zacks Rank #4 (Sell).
Investors should also note MMM's current valuation metrics, including its Forward P/E ratio of 17.65. This represents a premium compared to its industry's average Forward P/E of 14.91.
Investors should also note that MMM has a PEG ratio of 1.86 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MMM's industry had an average PEG ratio of 2.15 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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3M (MMM) Stock Sinks As Market Gains: What You Should Know
3M (MMM - Free Report) closed at $147.87 in the latest trading session, marking a -0.75% move from the prior day. This change lagged the S&P 500's 1.45% gain on the day. Meanwhile, the Dow gained 1.22%, and the Nasdaq, a tech-heavy index, added 0.78%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.19% over the past month, outpacing the Conglomerates sector's loss of 24.12% and the S&P 500's loss of 7.42% in that time.
Investors will be hoping for strength from MMM as it approaches its next earnings release. The company is expected to report EPS of $2.06, down 7.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.13 billion, up 3.45% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.44 per share and revenue of $32.06 billion, which would represent changes of -7.25% and -0.25%, respectively, from the prior year.
Any recent changes to analyst estimates for MMM should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.71% lower. MMM is currently a Zacks Rank #4 (Sell).
Investors should also note MMM's current valuation metrics, including its Forward P/E ratio of 17.65. This represents a premium compared to its industry's average Forward P/E of 14.91.
Investors should also note that MMM has a PEG ratio of 1.86 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MMM's industry had an average PEG ratio of 2.15 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.