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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 $149.53 in the latest trading session, marking a -0.11% move from the prior day. This change lagged the S&P 500's daily gain of 0.81%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.61%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 2.02% over the past month. This has lagged the Conglomerates sector's gain of 4.95% and the S&P 500's gain of 5.64% in that time.
Investors will be hoping for strength from 3M as it approaches its next earnings release. On that day, 3M is projected to report earnings of $2.43 per share, which would represent a year-over-year decline of 12.27%. Meanwhile, our latest consensus estimate is calling for revenue of $8.7 billion, down 1.69% from the prior-year quarter.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $10.32 per share and revenue of $36.09 billion. These results would represent year-over-year changes of +1.98% and +2.09%, respectively.
Any recent changes to analyst estimates for 3M should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.71% lower. 3M is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, 3M currently has a Forward P/E ratio of 14.51. For comparison, its industry has an average Forward P/E of 17.17, which means 3M is trading at a discount to the group.
We can also see that MMM currently has a PEG ratio of 1.53. 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 1.45 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 83, which puts it in the top 33% 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.
You can find more information on all of these metrics, and much 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 $149.53 in the latest trading session, marking a -0.11% move from the prior day. This change lagged the S&P 500's daily gain of 0.81%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.61%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 2.02% over the past month. This has lagged the Conglomerates sector's gain of 4.95% and the S&P 500's gain of 5.64% in that time.
Investors will be hoping for strength from 3M as it approaches its next earnings release. On that day, 3M is projected to report earnings of $2.43 per share, which would represent a year-over-year decline of 12.27%. Meanwhile, our latest consensus estimate is calling for revenue of $8.7 billion, down 1.69% from the prior-year quarter.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $10.32 per share and revenue of $36.09 billion. These results would represent year-over-year changes of +1.98% and +2.09%, respectively.
Any recent changes to analyst estimates for 3M should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.71% lower. 3M is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, 3M currently has a Forward P/E ratio of 14.51. For comparison, its industry has an average Forward P/E of 17.17, which means 3M is trading at a discount to the group.
We can also see that MMM currently has a PEG ratio of 1.53. 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 1.45 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 83, which puts it in the top 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.