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3M (MMM) Stock Slides as Market Rises: Facts to Know Before You Trade
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3M (MMM - Free Report) closed at $100.66 in the latest trading session, marking a -0.2% move from the prior day. This change lagged the S&P 500's daily gain of 0.26%. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.35%.
The maker of Post-it notes, industrial coatings and ceramics's shares have seen an increase of 1.95% over the last month, not keeping up with the Conglomerates sector's gain of 7.63% and the S&P 500's gain of 3.25%.
The upcoming earnings release of 3M will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.71, reflecting a 21.2% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.91 billion, down 29.05% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $7.09 per share and revenue of $23.54 billion. These results would represent year-over-year changes of -23.27% and -27.96%, respectively.
Investors might also notice recent changes to analyst estimates for 3M. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 3M is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, 3M currently has a Forward P/E ratio of 14.23. This denotes a discount relative to the industry's average Forward P/E of 17.92.
Investors should also note that MMM has a PEG ratio of 1.9 right now. 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 1.9.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 46, finds itself in the top 19% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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 Slides as Market Rises: Facts to Know Before You Trade
3M (MMM - Free Report) closed at $100.66 in the latest trading session, marking a -0.2% move from the prior day. This change lagged the S&P 500's daily gain of 0.26%. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.35%.
The maker of Post-it notes, industrial coatings and ceramics's shares have seen an increase of 1.95% over the last month, not keeping up with the Conglomerates sector's gain of 7.63% and the S&P 500's gain of 3.25%.
The upcoming earnings release of 3M will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.71, reflecting a 21.2% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.91 billion, down 29.05% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $7.09 per share and revenue of $23.54 billion. These results would represent year-over-year changes of -23.27% and -27.96%, respectively.
Investors might also notice recent changes to analyst estimates for 3M. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 3M is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, 3M currently has a Forward P/E ratio of 14.23. This denotes a discount relative to the industry's average Forward P/E of 17.92.
Investors should also note that MMM has a PEG ratio of 1.9 right now. 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 1.9.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 46, finds itself in the top 19% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.