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3M (MMM) Outpaces Stock Market Gains: What You Should Know
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3M (MMM - Free Report) closed the most recent trading day at $107.89, moving +1.55% from the previous trading session. This change outpaced the S&P 500's 0.67% gain on the day. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 1.14%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.62% over the past month. This has outpaced the Conglomerates sector's loss of 2.42% and the S&P 500's loss of 0.73% in that time.
3M will be looking to display strength as it nears its next earnings release. On that day, 3M is projected to report earnings of $2.36 per share, which would represent a year-over-year decline of 12.27%. Our most recent consensus estimate is calling for quarterly revenue of $8.02 billion, down 6.91% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.95 per share and revenue of $32.04 billion. These results would represent year-over-year changes of -11.39% and -6.4%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 3M is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, 3M currently has a Forward P/E ratio of 11.87. This represents a discount compared to its industry's average Forward P/E of 16.84.
Investors should also note that MMM has a PEG ratio of 1.65 right now. 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 1.95 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 102, which puts it in the top 41% 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) Outpaces Stock Market Gains: What You Should Know
3M (MMM - Free Report) closed the most recent trading day at $107.89, moving +1.55% from the previous trading session. This change outpaced the S&P 500's 0.67% gain on the day. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 1.14%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 1.62% over the past month. This has outpaced the Conglomerates sector's loss of 2.42% and the S&P 500's loss of 0.73% in that time.
3M will be looking to display strength as it nears its next earnings release. On that day, 3M is projected to report earnings of $2.36 per share, which would represent a year-over-year decline of 12.27%. Our most recent consensus estimate is calling for quarterly revenue of $8.02 billion, down 6.91% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.95 per share and revenue of $32.04 billion. These results would represent year-over-year changes of -11.39% and -6.4%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 3M is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, 3M currently has a Forward P/E ratio of 11.87. This represents a discount compared to its industry's average Forward P/E of 16.84.
Investors should also note that MMM has a PEG ratio of 1.65 right now. 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 1.95 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 102, which puts it in the top 41% 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.