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3M (MMM) Gains As Market Dips: What You Should Know
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In the latest trading session, 3M (MMM - Free Report) closed at $151.77, marking a +0.78% move from the previous day. This move outpaced the S&P 500's daily loss of 1.48%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.97% in the past month. In that same time, the Conglomerates sector lost 1.87%, while the S&P 500 gained 0.08%.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. This is expected to be April 26, 2022. In that report, analysts expect 3M to post earnings of $2.33 per share. This would mark a year-over-year decline of 15.88%. Our most recent consensus estimate is calling for quarterly revenue of $8.74 billion, down 1.25% from the year-ago period.
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.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.97% lower. 3M is currently a Zacks Rank #3 (Hold).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 14.74. This represents a discount compared to its industry's average Forward P/E of 17.43.
It is also worth noting that MMM currently has a PEG ratio of 1.55. 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. The Diversified Operations was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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3M (MMM) Gains As Market Dips: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $151.77, marking a +0.78% move from the previous day. This move outpaced the S&P 500's daily loss of 1.48%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.97% in the past month. In that same time, the Conglomerates sector lost 1.87%, while the S&P 500 gained 0.08%.
Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. This is expected to be April 26, 2022. In that report, analysts expect 3M to post earnings of $2.33 per share. This would mark a year-over-year decline of 15.88%. Our most recent consensus estimate is calling for quarterly revenue of $8.74 billion, down 1.25% from the year-ago period.
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.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.97% lower. 3M is currently a Zacks Rank #3 (Hold).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 14.74. This represents a discount compared to its industry's average Forward P/E of 17.43.
It is also worth noting that MMM currently has a PEG ratio of 1.55. 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. The Diversified Operations was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.