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3M (MMM) Ascends While Market Falls: Some Facts to Note
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3M (MMM - Free Report) closed at $103.23 in the latest trading session, marking a +1.53% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%.
Shares of the maker of Post-it notes, industrial coatings and ceramics have appreciated by 0.45% over the course of the past month, outperforming the Conglomerates sector's loss of 6.42% and lagging the S&P 500's gain of 5.11%.
The investment community will be closely monitoring the performance of 3M in its forthcoming earnings report. The company's upcoming EPS is projected at $1.66, signifying a 23.5% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $5.89 billion, indicating a 29.31% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $7.17 per share and a revenue of $23.41 billion, demonstrating changes of -22.4% and -28.37%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 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 has moved 1.17% higher. At present, 3M boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, 3M is holding a Forward P/E ratio of 14.17. This signifies a discount in comparison to the average Forward P/E of 18.43 for its industry.
Meanwhile, MMM's PEG ratio is currently 1.89. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Diversified Operations industry held an average PEG ratio of 1.69.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Ascends While Market Falls: Some Facts to Note
3M (MMM - Free Report) closed at $103.23 in the latest trading session, marking a +1.53% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%.
Shares of the maker of Post-it notes, industrial coatings and ceramics have appreciated by 0.45% over the course of the past month, outperforming the Conglomerates sector's loss of 6.42% and lagging the S&P 500's gain of 5.11%.
The investment community will be closely monitoring the performance of 3M in its forthcoming earnings report. The company's upcoming EPS is projected at $1.66, signifying a 23.5% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $5.89 billion, indicating a 29.31% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $7.17 per share and a revenue of $23.41 billion, demonstrating changes of -22.4% and -28.37%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 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 has moved 1.17% higher. At present, 3M boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, 3M is holding a Forward P/E ratio of 14.17. This signifies a discount in comparison to the average Forward P/E of 18.43 for its industry.
Meanwhile, MMM's PEG ratio is currently 1.89. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Diversified Operations industry held an average PEG ratio of 1.69.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.