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3M (MMM - Free Report) closed the most recent trading day at $114.81, moving -1.47% from the previous trading session. This change was narrower than the S&P 500's 1.71% loss on the day. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 17.8% over the past month. This has lagged the Conglomerates sector's loss of 11.17% and the S&P 500's loss of 8.68% in that time.
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 $2.71 per share, which would represent year-over-year growth of 10.61%. Meanwhile, our latest consensus estimate is calling for revenue of $8.76 billion, down 2.06% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.42 per share and revenue of $35.05 billion. These totals would mark changes of +2.96% and -0.85%, respectively, from last year.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. 3M is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that 3M has a Forward P/E ratio of 11.19 right now. This represents a discount compared to its industry's average Forward P/E of 15.03.
Investors should also note that MMM has a PEG ratio of 1.18 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. The Diversified Operations industry currently had an average PEG ratio of 1.62 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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3M (MMM) Stock Moves -1.47%: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $114.81, moving -1.47% from the previous trading session. This change was narrower than the S&P 500's 1.71% loss on the day. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 17.8% over the past month. This has lagged the Conglomerates sector's loss of 11.17% and the S&P 500's loss of 8.68% in that time.
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 $2.71 per share, which would represent year-over-year growth of 10.61%. Meanwhile, our latest consensus estimate is calling for revenue of $8.76 billion, down 2.06% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.42 per share and revenue of $35.05 billion. These totals would mark changes of +2.96% and -0.85%, respectively, from last year.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. 3M is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that 3M has a Forward P/E ratio of 11.19 right now. This represents a discount compared to its industry's average Forward P/E of 15.03.
Investors should also note that MMM has a PEG ratio of 1.18 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. The Diversified Operations industry currently had an average PEG ratio of 1.62 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.