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3M (MMM) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, 3M (MMM - Free Report) closed at $122.96, marking a -1.75% move from the previous day. This change lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 0.95% over the past month. This has was narrower than the Conglomerates sector's loss of 2.16% and the S&P 500's loss of 5.25% in that time.
Investors will be hoping for strength from 3M as it approaches its next earnings release. In that report, analysts expect 3M to post earnings of $2.41 per share. This would mark year-over-year growth of 4.33%. Meanwhile, our latest consensus estimate is calling for revenue of $8.13 billion, down 5.63% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for 3M. Recent revisions tend to reflect the latest 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 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 0.68% lower within the past month. 3M currently has a Zacks Rank of #4 (Sell).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 12. For comparison, its industry has an average Forward P/E of 12.86, which means 3M is trading at a discount to the group.
It is also worth noting that MMM currently has a PEG ratio of 1.26. 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 1.66 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $122.96, marking a -1.75% move from the previous day. This change lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 0.95% over the past month. This has was narrower than the Conglomerates sector's loss of 2.16% and the S&P 500's loss of 5.25% in that time.
Investors will be hoping for strength from 3M as it approaches its next earnings release. In that report, analysts expect 3M to post earnings of $2.41 per share. This would mark year-over-year growth of 4.33%. Meanwhile, our latest consensus estimate is calling for revenue of $8.13 billion, down 5.63% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for 3M. Recent revisions tend to reflect the latest 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 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 0.68% lower within the past month. 3M currently has a Zacks Rank of #4 (Sell).
Investors should also note 3M's current valuation metrics, including its Forward P/E ratio of 12. For comparison, its industry has an average Forward P/E of 12.86, which means 3M is trading at a discount to the group.
It is also worth noting that MMM currently has a PEG ratio of 1.26. 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 1.66 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% 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.