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3M (MMM) Stock Slides as Market Rises: Facts to Know Before You Trade
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The most recent trading session ended with 3M (MMM - Free Report) standing at $90.39, reflecting a -0.28% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
The maker of Post-it notes, industrial coatings and ceramics's stock has dropped by 15.42% in the past month, falling short of the Conglomerates sector's loss of 4.11% and the S&P 500's loss of 2.1%.
Investors will be eagerly watching for the performance of 3M in its upcoming earnings disclosure. In that report, analysts expect 3M to post earnings of $2.33 per share. This would mark a year-over-year decline of 13.38%. Simultaneously, our latest consensus estimate expects the revenue to be $7.96 billion, showing a 7.61% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.94 per share and a revenue of $31.69 billion, indicating changes of -11.49% and -7.43%, respectively, from the former year.
Any recent changes to analyst estimates for 3M should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. At present, 3M boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that 3M has a Forward P/E ratio of 10.14 right now. This represents a discount compared to its industry's average Forward P/E of 15.74.
We can also see that MMM currently has a PEG ratio of 1.41. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Diversified Operations industry was having an average PEG ratio of 1.83.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 152, positioning it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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3M (MMM) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with 3M (MMM - Free Report) standing at $90.39, reflecting a -0.28% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
The maker of Post-it notes, industrial coatings and ceramics's stock has dropped by 15.42% in the past month, falling short of the Conglomerates sector's loss of 4.11% and the S&P 500's loss of 2.1%.
Investors will be eagerly watching for the performance of 3M in its upcoming earnings disclosure. In that report, analysts expect 3M to post earnings of $2.33 per share. This would mark a year-over-year decline of 13.38%. Simultaneously, our latest consensus estimate expects the revenue to be $7.96 billion, showing a 7.61% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.94 per share and a revenue of $31.69 billion, indicating changes of -11.49% and -7.43%, respectively, from the former year.
Any recent changes to analyst estimates for 3M should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. At present, 3M boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that 3M has a Forward P/E ratio of 10.14 right now. This represents a discount compared to its industry's average Forward P/E of 15.74.
We can also see that MMM currently has a PEG ratio of 1.41. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Diversified Operations industry was having an average PEG ratio of 1.83.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 152, positioning it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.