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3M (MMM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, 3M (MMM - Free Report) closed at $104.45, marking a -1.06% move from the previous day. This move lagged the S&P 500's daily gain of 0.38%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 0.54%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4.51% in the past month. In that same time, the Conglomerates sector lost 1.42%, while the S&P 500 lost 1.68%.
3M will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $8.04 billion, down 6.69% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for 3M. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 3M is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, 3M is holding a Forward P/E ratio of 11.8. This represents a discount compared to its industry's average Forward P/E of 16.26.
Investors should also note that MMM has a PEG ratio of 1.64 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. The Diversified Operations industry currently had an average PEG ratio of 1.95 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
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 Sinks As Market Gains: What You Should Know
In the latest trading session, 3M (MMM - Free Report) closed at $104.45, marking a -1.06% move from the previous day. This move lagged the S&P 500's daily gain of 0.38%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 0.54%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4.51% in the past month. In that same time, the Conglomerates sector lost 1.42%, while the S&P 500 lost 1.68%.
3M will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $8.04 billion, down 6.69% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for 3M. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 3M is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, 3M is holding a Forward P/E ratio of 11.8. This represents a discount compared to its industry's average Forward P/E of 16.26.
Investors should also note that MMM has a PEG ratio of 1.64 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. The Diversified Operations industry currently had an average PEG ratio of 1.95 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.