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3M (MMM) Stock Declines While Market Improves: Some Information for Investors
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3M (MMM - Free Report) ended the recent trading session at $108.30, demonstrating a -0.73% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.57%. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq increased by 0.75%.
The maker of Post-it notes, industrial coatings and ceramics's shares have seen an increase of 6.38% over the last month, surpassing the Conglomerates sector's gain of 0.1% and the S&P 500's gain of 3.4%.
The investment community will be paying close attention to the earnings performance of 3M in its upcoming release. It is anticipated that the company will report an EPS of $2.31, marking a 1.32% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $7.69 billion, indicating a 4.86% downward movement from the same quarter last year.
Any recent changes to analyst estimates for 3M should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 0.21% lower. 3M is currently a Zacks Rank #3 (Hold).
Looking at valuation, 3M is presently trading at a Forward P/E ratio of 11.02. This denotes a discount relative to the industry's average Forward P/E of 15.28.
We can additionally observe that MMM currently boasts a PEG ratio of 1.52. 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. As the market closed yesterday, the Diversified Operations industry was having an average PEG ratio of 2.26.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.
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3M (MMM) Stock Declines While Market Improves: Some Information for Investors
3M (MMM - Free Report) ended the recent trading session at $108.30, demonstrating a -0.73% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.57%. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq increased by 0.75%.
The maker of Post-it notes, industrial coatings and ceramics's shares have seen an increase of 6.38% over the last month, surpassing the Conglomerates sector's gain of 0.1% and the S&P 500's gain of 3.4%.
The investment community will be paying close attention to the earnings performance of 3M in its upcoming release. It is anticipated that the company will report an EPS of $2.31, marking a 1.32% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $7.69 billion, indicating a 4.86% downward movement from the same quarter last year.
Any recent changes to analyst estimates for 3M should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 0.21% lower. 3M is currently a Zacks Rank #3 (Hold).
Looking at valuation, 3M is presently trading at a Forward P/E ratio of 11.02. This denotes a discount relative to the industry's average Forward P/E of 15.28.
We can additionally observe that MMM currently boasts a PEG ratio of 1.52. 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. As the market closed yesterday, the Diversified Operations industry was having an average PEG ratio of 2.26.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.