In the latest trading session, 3M (MMM) closed at $192.82, marking a -1.67% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.08%. Elsewhere, the Dow lost 2.11%, while the tech-heavy Nasdaq lost 2.27%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 4.3% over the past month, outpacing the Conglomerates sector's loss of 5.83% and lagging the S&P 500's loss of 3.6% in that time.
Investors will be hoping for strength from MMM as it approaches its next earnings release, which is expected to be January 24, 2019. The company is expected to report EPS of $2.28, up 8.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.98 billion, down 0.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.95 per share and revenue of $32.85 billion. These totals would mark changes of +8.51% and +3.77%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MMM. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. MMM currently has a Zacks Rank of #4 (Sell).
Investors should also note MMM's current valuation metrics, including its Forward P/E ratio of 19.7. This represents a premium compared to its industry's average Forward P/E of 15.43.
Meanwhile, MMM's PEG ratio is currently 1.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.79 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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