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3M (MMM) Gains As Market Dips: What You Should Know
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3M (MMM - Free Report) closed the most recent trading day at $150.59, moving +0.33% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.64%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.11% in the past month. In that same time, the Conglomerates sector lost 2.72%, while the S&P 500 gained 0.17%.
Investors will be hoping for strength from 3M as it approaches its next earnings release. The company is expected to report EPS of $2.33, down 15.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.74 billion, down 1.25% from the prior-year quarter.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $10.22 per share and revenue of $36.12 billion. These results would represent year-over-year changes of +0.99% and +2.17%, 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. 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 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. The Zacks Consensus EPS estimate has moved 0.97% lower within the past month. 3M currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that 3M has a Forward P/E ratio of 14.69 right now. Its industry sports an average Forward P/E of 17.06, so we one might conclude that 3M is trading at a discount comparatively.
Investors should also note that MMM has a PEG ratio of 1.55 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.31 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 81, which puts it in the top 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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3M (MMM) Gains As Market Dips: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $150.59, moving +0.33% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.64%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.11% in the past month. In that same time, the Conglomerates sector lost 2.72%, while the S&P 500 gained 0.17%.
Investors will be hoping for strength from 3M as it approaches its next earnings release. The company is expected to report EPS of $2.33, down 15.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.74 billion, down 1.25% from the prior-year quarter.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $10.22 per share and revenue of $36.12 billion. These results would represent year-over-year changes of +0.99% and +2.17%, 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. 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 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. The Zacks Consensus EPS estimate has moved 0.97% lower within the past month. 3M currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that 3M has a Forward P/E ratio of 14.69 right now. Its industry sports an average Forward P/E of 17.06, so we one might conclude that 3M is trading at a discount comparatively.
Investors should also note that MMM has a PEG ratio of 1.55 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.31 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 81, which puts it in the top 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.
You can find more information on all of these metrics, and much more, on Zacks.com.