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In the latest trading session, 3M (MMM - Free Report) closed at $148.90, marking a -0.42% move from the previous day. This change was narrower than the S&P 500's 1.26% loss on the day. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 0.44%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 4.36% in the past month. In that same time, the Conglomerates sector gained 4.13%, while the S&P 500 gained 6.07%.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. On that day, 3M is projected to report earnings of $2.40 per share, which would represent a year-over-year decline of 13.36%. Meanwhile, our latest consensus estimate is calling for revenue of $8.7 billion, down 1.69% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.29 per share and revenue of $36.09 billion. These totals would mark changes of +1.68% and +2.09%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for 3M. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. The Zacks Consensus EPS estimate has moved 0.56% lower within the past month. 3M currently has a Zacks Rank of #3 (Hold).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 14.53. This valuation marks a discount compared to its industry's average Forward P/E of 17.13.
It is also worth noting that MMM currently has a PEG ratio of 1.53. 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. The Diversified Operations industry currently had an average PEG ratio of 1.45 as of yesterday's close.
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 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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3M (MMM) Stock Moves -0.42%: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $148.90, marking a -0.42% move from the previous day. This change was narrower than the S&P 500's 1.26% loss on the day. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 0.44%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 4.36% in the past month. In that same time, the Conglomerates sector gained 4.13%, while the S&P 500 gained 6.07%.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. On that day, 3M is projected to report earnings of $2.40 per share, which would represent a year-over-year decline of 13.36%. Meanwhile, our latest consensus estimate is calling for revenue of $8.7 billion, down 1.69% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.29 per share and revenue of $36.09 billion. These totals would mark changes of +1.68% and +2.09%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for 3M. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. The Zacks Consensus EPS estimate has moved 0.56% lower within the past month. 3M currently has a Zacks Rank of #3 (Hold).
In terms of valuation, 3M is currently trading at a Forward P/E ratio of 14.53. This valuation marks a discount compared to its industry's average Forward P/E of 17.13.
It is also worth noting that MMM currently has a PEG ratio of 1.53. 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. The Diversified Operations industry currently had an average PEG ratio of 1.45 as of yesterday's close.
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 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.
You can find more information on all of these metrics, and much more, on Zacks.com.