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3M (MMM) Gains But Lags Market: What You Should Know
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3M (MMM - Free Report) closed at $203.29 in the latest trading session, marking a +0.04% move from the prior day. This move lagged the S&P 500's daily gain of 0.15%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.92% over the past month, lagging the Conglomerates sector's gain of 2.51% and outpacing the S&P 500's gain of 0.58% 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 $2.20 per share, which would represent year-over-year growth of 23.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.41 billion, up 17.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.73 per share and revenue of $34.99 billion. These totals would mark changes of +11.33% and +8.71%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MMM. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MMM is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that MMM has a Forward P/E ratio of 20.88 right now. This represents a discount compared to its industry's average Forward P/E of 21.74.
Investors should also note that MMM has a PEG ratio of 2.2 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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3M (MMM) Gains But Lags Market: What You Should Know
3M (MMM - Free Report) closed at $203.29 in the latest trading session, marking a +0.04% move from the prior day. This move lagged the S&P 500's daily gain of 0.15%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.92% over the past month, lagging the Conglomerates sector's gain of 2.51% and outpacing the S&P 500's gain of 0.58% 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 $2.20 per share, which would represent year-over-year growth of 23.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.41 billion, up 17.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.73 per share and revenue of $34.99 billion. These totals would mark changes of +11.33% and +8.71%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MMM. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MMM is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that MMM has a Forward P/E ratio of 20.88 right now. This represents a discount compared to its industry's average Forward P/E of 21.74.
Investors should also note that MMM has a PEG ratio of 2.2 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.