3M (MMM) closed the most recent trading day at $149.35, moving -0.54% from the previous trading session. This change was narrower than the S&P 500's 3.17% loss on the day. Meanwhile, the Dow lost 3.77%, and the Nasdaq, a tech-heavy index, lost 2.28%.
Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 7.6% in the past month. In that same time, the Conglomerates sector lost 10.08%, while the S&P 500 lost 8.05%.
MMM will be looking to display strength as it nears its next earnings release. On that day, MMM is projected to report earnings of $2.15 per share, which would represent a year-over-year decline of 3.59%. Meanwhile, our latest consensus estimate is calling for revenue of $8.23 billion, up 4.67% from the prior-year quarter.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.49 per share and revenue of $33.56 billion. These results would represent year-over-year changes of +4.29% and +4.44%, respectively.
It is also important to note the recent changes to analyst estimates for MMM. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.63% lower within the past month. MMM is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, MMM is holding a Forward P/E ratio of 15.82. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 15.82.
Meanwhile, MMM's PEG ratio is currently 1.66. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.97 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 220, which puts it in the bottom 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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