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3M (MMM) Gains But Lags Market: What You Should Know
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3M (MMM - Free Report) closed at $149.94 in the latest trading session, marking a +0.92% move from the prior day. The stock lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 0.91%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.65% in the past month. In that same time, the Conglomerates sector gained 5.07%, while the S&P 500 gained 2.65%.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. The company is expected to report EPS of $2.43, down 12.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.7 billion, down 1.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.32 per share and revenue of $36.09 billion. These totals would mark changes of +1.98% and +2.09%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 has moved 0.71% lower. 3M is currently a Zacks Rank #3 (Hold).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 14.4. Its industry sports an average Forward P/E of 17.98, so we one might conclude that 3M is trading at a discount comparatively.
Investors should also note that MMM has a PEG ratio of 1.52 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.46 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 91, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.
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3M (MMM) Gains But Lags Market: What You Should Know
3M (MMM - Free Report) closed at $149.94 in the latest trading session, marking a +0.92% move from the prior day. The stock lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 0.91%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.65% in the past month. In that same time, the Conglomerates sector gained 5.07%, while the S&P 500 gained 2.65%.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. The company is expected to report EPS of $2.43, down 12.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.7 billion, down 1.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.32 per share and revenue of $36.09 billion. These totals would mark changes of +1.98% and +2.09%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 has moved 0.71% lower. 3M is currently a Zacks Rank #3 (Hold).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 14.4. Its industry sports an average Forward P/E of 17.98, so we one might conclude that 3M is trading at a discount comparatively.
Investors should also note that MMM has a PEG ratio of 1.52 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.46 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 91, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.