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3M (MMM) Stock Moves -1.74%: What You Should Know

Zacks Equity Research
·3 mins read

3M (MMM) closed at $159.51 in the latest trading session, marking a -1.74% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.37%. Elsewhere, the Dow lost 1.92%, while the tech-heavy Nasdaq lost 3.02%.

Coming into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 0.47% in the past month. In that same time, the Conglomerates sector gained 0.39%, while the S&P 500 lost 2.31%.

Investors will be hoping for strength from MMM as it approaches its next earnings release. In that report, analysts expect MMM to post earnings of $2.16 per share. This would mark a year-over-year decline of 16.28%.

MMM's full-year Zacks Consensus Estimates are calling for earnings of $8.27 per share and revenue of $31.69 billion. These results would represent year-over-year changes of -9.12% and -1.38%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.45% higher within the past month. MMM is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, MMM is holding a Forward P/E ratio of 19.64. Its industry sports an average Forward P/E of 18.34, so we one might conclude that MMM is trading at a premium comparatively.

Also, we should mention that MMM has a PEG ratio of 2.07. 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. The Diversified Operations was holding an average PEG ratio of 2.57 at yesterday's closing price.

The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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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Zacks Investment Research