We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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.
3M (MMM) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, 3M (MMM - Free Report) closed at $144.86, marking a -0.21% move from the previous day. This move lagged the S&P 500's daily gain of 0.58%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 1.66%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 5.94% over the past month, outpacing the Conglomerates sector's loss of 4.35% and the S&P 500's gain of 3.15% in that time.
Wall Street will be looking for positivity from MMM as it approaches its next earnings report date. On that day, MMM is projected to report earnings of $2.02 per share, which would represent a year-over-year decline of 9.42%. Our most recent consensus estimate is calling for quarterly revenue of $7.99 billion, up 1.66% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.16 per share and revenue of $31.27 billion. These results would represent year-over-year changes of -10.33% and -2.7%, respectively.
Investors should also note any recent changes to analyst estimates for MMM. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13% lower. MMM currently has a Zacks Rank of #4 (Sell).
In terms of valuation, MMM is currently trading at a Forward P/E ratio of 17.8. Its industry sports an average Forward P/E of 14.56, so we one might conclude that MMM is trading at a premium comparatively.
Investors should also note that MMM has a PEG ratio of 1.87 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MMM's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
3M (MMM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $144.86, marking a -0.21% move from the previous day. This move lagged the S&P 500's daily gain of 0.58%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 1.66%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 5.94% over the past month, outpacing the Conglomerates sector's loss of 4.35% and the S&P 500's gain of 3.15% in that time.
Wall Street will be looking for positivity from MMM as it approaches its next earnings report date. On that day, MMM is projected to report earnings of $2.02 per share, which would represent a year-over-year decline of 9.42%. Our most recent consensus estimate is calling for quarterly revenue of $7.99 billion, up 1.66% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.16 per share and revenue of $31.27 billion. These results would represent year-over-year changes of -10.33% and -2.7%, respectively.
Investors should also note any recent changes to analyst estimates for MMM. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13% lower. MMM currently has a Zacks Rank of #4 (Sell).
In terms of valuation, MMM is currently trading at a Forward P/E ratio of 17.8. Its industry sports an average Forward P/E of 14.56, so we one might conclude that MMM is trading at a premium comparatively.
Investors should also note that MMM has a PEG ratio of 1.87 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MMM's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.