In the latest trading session, 3M (MMM) closed at $169.88, marking a -0.51% move from the previous day. This change lagged the S&P 500's 0.03% gain on the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.1%.
Prior to today's trading, shares of the maker of Post-it notes, industrial coatings and ceramics had gained 0.12% over the past month. This has outpaced the Conglomerates sector's loss of 0.12% and lagged the S&P 500's gain of 1.82% in that time.
Investors will be hoping for strength from MMM as it approaches its next earnings release. On that day, MMM is projected to report earnings of $2.10 per share, which would represent a year-over-year decline of 9.09%. Meanwhile, our latest consensus estimate is calling for revenue of $8.12 billion, up 2.25% from the prior-year quarter.
MMM's full-year Zacks Consensus Estimates are calling for earnings of $9.05 per share and revenue of $32.12 billion. These results would represent year-over-year changes of -13.48% and -1.96%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 0.46% lower within the past month. 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 18.87. This represents a premium compared to its industry's average Forward P/E of 17.64.
Investors should also note that MMM has a PEG ratio of 1.99 right now. 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. The Diversified Operations industry currently had an average PEG ratio of 2.09 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% 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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