雅虎香港財經 3M (MMM) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw 3M (MMM) ending at $102.05, denoting a -0.91% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
Shares of the maker of Post-it notes, industrial coatings and ceramics witnessed a gain of 3.33% over the previous month, beating the performance of the Conglomerates sector with its loss of 2.39% and the S&P 500's gain of 2.83%.
Investors will be eagerly watching for the performance of 3M in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.67, reflecting a 23.04% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.91 billion, reflecting a 29.05% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.09 per share and a revenue of $23.54 billion, representing changes of -23.27% and -27.96%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for 3M. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 3M is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, 3M currently has a Forward P/E ratio of 14.53. This valuation marks a discount compared to its industry's average Forward P/E of 17.88.
We can additionally observe that MMM currently boasts a PEG ratio of 1.94. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Diversified Operations industry was having an average PEG ratio of 1.94.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow MMM in the coming trading sessions, be sure to utilize Zacks.com.
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3M Company (MMM) : Free Stock Analysis Report
