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3M (MMM) closed the most recent trading day at $181.72, moving -0.12% from the previous trading session. This change lagged the S&P 500's daily gain of 0.34%.
Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.25% over the past month, outpacing the Conglomerates sector's loss of 2.45% and the S&P 500's loss of 0.12% in that time.
Wall Street will be looking for positivity from MMM as it approaches its next earnings report date. This is expected to be October 26, 2021. On that day, MMM is projected to report earnings of $2.18 per share, which would represent a year-over-year decline of 10.29%. Our most recent consensus estimate is calling for quarterly revenue of $8.67 billion, up 3.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.77 per share and revenue of $35.05 billion, which would represent changes of +11.78% and +8.92%, respectively, from the prior year.
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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.34% lower. MMM currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that MMM has a Forward P/E ratio of 18.62 right now. For comparison, its industry has an average Forward P/E of 18.62, which means MMM is trading at a no noticeable deviation to the group.
We can also see that MMM currently has a PEG ratio of 1.96. 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 1.78 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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3M Company (MMM) : Free Stock Analysis Report
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