3M (MMM) closed at $153.52 in the latest trading session, marking a -1.48% move from the prior day. This change lagged the S&P 500's 0.45% loss on the day. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.33%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 5.12% over the past month. This has lagged the Conglomerates sector's loss of 0.68% and the S&P 500's gain of 0.59% in that time.
MMM will be looking to display strength as it nears its next earnings release. On that day, MMM is projected to report earnings of $2.55 per share, which would represent a year-over-year decline of 1.16%. Our most recent consensus estimate is calling for quarterly revenue of $8.19 billion, up 0.5% from the year-ago period.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.32 per share and revenue of $32.23 billion. These results would represent year-over-year changes of -10.9% and -1.64%, respectively.
Any recent changes to analyst estimates for MMM should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.17% 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 16.72. Its industry sports an average Forward P/E of 13.6, so we one might conclude that MMM is trading at a premium comparatively.
Meanwhile, MMM's PEG ratio is currently 1.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MMM's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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