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3M (MMM) Stock Sinks As Market Gains: What You Should Know
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3M (MMM - Free Report) closed the most recent trading day at $100.43, moving -1.02% from the previous trading session. This move lagged the S&P 500's daily gain of 0.37%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 1.26%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 4.62% in the past month. In that same time, the Conglomerates sector gained 2.67%, while the S&P 500 gained 4.31%.
3M will be looking to display strength as it nears its next earnings release. On that day, 3M is projected to report earnings of $1.69 per share, which would represent a year-over-year decline of 31.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.84 billion, down 9.91% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.66 per share and revenue of $32.12 billion. These totals would mark changes of -14.26% and -6.15%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for 3M. 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. 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. The Zacks Consensus EPS estimate remained stagnant 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 11.72 right now. For comparison, its industry has an average Forward P/E of 15.56, which means 3M is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 1.23 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MMM's industry had an average PEG ratio of 1.78 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 173, which puts 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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3M (MMM) Stock Sinks As Market Gains: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $100.43, moving -1.02% from the previous trading session. This move lagged the S&P 500's daily gain of 0.37%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 1.26%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 4.62% in the past month. In that same time, the Conglomerates sector gained 2.67%, while the S&P 500 gained 4.31%.
3M will be looking to display strength as it nears its next earnings release. On that day, 3M is projected to report earnings of $1.69 per share, which would represent a year-over-year decline of 31.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.84 billion, down 9.91% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.66 per share and revenue of $32.12 billion. These totals would mark changes of -14.26% and -6.15%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for 3M. 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. 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. The Zacks Consensus EPS estimate remained stagnant 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 11.72 right now. For comparison, its industry has an average Forward P/E of 15.56, which means 3M is trading at a discount to the group.
Investors should also note that MMM has a PEG ratio of 1.23 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MMM's industry had an average PEG ratio of 1.78 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 173, which puts 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.
You can find more information on all of these metrics, and much more, on Zacks.com.