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3M (MMM - Free Report) closed at $198.06 in the latest trading session, marking a -0.16% move from the prior day. This change was narrower than the S&P 500's 0.76% loss on the day. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, lost 0.9%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 1.96% in the past month. In that same time, the Conglomerates sector lost 6.76%, while the S&P 500 lost 1.41%.
MMM will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2019. On that day, MMM is projected to report earnings of $2.29 per share, which would represent year-over-year growth of 9.05%. Meanwhile, our latest consensus estimate is calling for revenue of $7.99 billion, unchanged from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.02 per share and revenue of $32.85 billion. These totals would mark changes of +9.27% and +3.78%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MMM. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 2.52% lower. MMM is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note MMM's current valuation metrics, including its Forward P/E ratio of 19.81. This valuation marks a premium compared to its industry's average Forward P/E of 17.11.
Also, we should mention that MMM has a PEG ratio of 1.95. 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. MMM's industry had an average PEG ratio of 1.89 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 108, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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3M (MMM) Stock Moves -0.16%: What You Should Know
3M (MMM - Free Report) closed at $198.06 in the latest trading session, marking a -0.16% move from the prior day. This change was narrower than the S&P 500's 0.76% loss on the day. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, lost 0.9%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 1.96% in the past month. In that same time, the Conglomerates sector lost 6.76%, while the S&P 500 lost 1.41%.
MMM will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2019. On that day, MMM is projected to report earnings of $2.29 per share, which would represent year-over-year growth of 9.05%. Meanwhile, our latest consensus estimate is calling for revenue of $7.99 billion, unchanged from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.02 per share and revenue of $32.85 billion. These totals would mark changes of +9.27% and +3.78%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MMM. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 2.52% lower. MMM is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note MMM's current valuation metrics, including its Forward P/E ratio of 19.81. This valuation marks a premium compared to its industry's average Forward P/E of 17.11.
Also, we should mention that MMM has a PEG ratio of 1.95. 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. MMM's industry had an average PEG ratio of 1.89 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 108, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.