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3M (MMM) Dips More Than Broader Markets: What You Should Know
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3M (MMM - Free Report) closed at $128.37 in the latest trading session, marking a -1.41% move from the prior day. This change lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 3.73% over the past month, outpacing the Conglomerates sector's loss of 7.44% and lagging the S&P 500's loss of 1.89% in that time.
3M will be looking to display strength as it nears its next earnings release. In that report, analysts expect 3M to post earnings of $2.48 per share. This would mark a year-over-year decline of 4.25%. Our most recent consensus estimate is calling for quarterly revenue of $8.69 billion, down 2.96% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.70 per share and revenue of $35.6 billion, which would represent changes of +5.73% and +0.7%, respectively, from the prior year.
Any recent changes to analyst estimates for 3M should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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, 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 1.31% lower. 3M is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 12.17. This valuation marks a discount compared to its industry's average Forward P/E of 14.75.
We can also see that MMM currently has a PEG ratio of 1.28. 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 1.47 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 168, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.
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3M (MMM) Dips More Than Broader Markets: What You Should Know
3M (MMM - Free Report) closed at $128.37 in the latest trading session, marking a -1.41% move from the prior day. This change lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 3.73% over the past month, outpacing the Conglomerates sector's loss of 7.44% and lagging the S&P 500's loss of 1.89% in that time.
3M will be looking to display strength as it nears its next earnings release. In that report, analysts expect 3M to post earnings of $2.48 per share. This would mark a year-over-year decline of 4.25%. Our most recent consensus estimate is calling for quarterly revenue of $8.69 billion, down 2.96% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.70 per share and revenue of $35.6 billion, which would represent changes of +5.73% and +0.7%, respectively, from the prior year.
Any recent changes to analyst estimates for 3M should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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, 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 1.31% lower. 3M is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 12.17. This valuation marks a discount compared to its industry's average Forward P/E of 14.75.
We can also see that MMM currently has a PEG ratio of 1.28. 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 1.47 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 168, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.