The upcoming report from 3M (MMM) is expected to reveal quarterly earnings of $2.01 per share, indicating an increase of 4.2% compared to the year-ago period. Analysts forecast revenues of $6.11 billion, representing a decline of 2.4% year over year.
The current level reflects an upward revision of 1.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some 3M metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Net Sales- Safety and Industrial' to come in at $2.78 billion. The estimate indicates a change of +0.9% from the prior-year quarter.
Analysts forecast 'Net Sales- Corporate and Unallocated' to reach $85.00 million. The estimate indicates a year-over-year change of -1.2%.
Based on the collective assessment of analysts, 'Net Sales- Consumer' should arrive at $1.27 billion. The estimate points to a change of +0.8% from the year-ago quarter.
Analysts predict that the 'Operating Income (non-GAAP measures)- Consumer' will reach $264.25 million. Compared to the present estimate, the company reported $219.00 million in the same quarter last year.
The combined assessment of analysts suggests that 'Operating Income (non-GAAP measures)- Transportation and Electronics' will likely reach $465.99 million. Compared to the present estimate, the company reported $426.00 million in the same quarter last year.
The consensus estimate for 'Operating Income (non-GAAP measures)- Safety and Industrial' stands at $730.60 million. Compared to the current estimate, the company reported $623.00 million in the same quarter of the previous year.
View all Key Company Metrics for 3M here>>>
Over the past month, shares of 3M have returned +8.9% versus the Zacks S&P 500 composite's +5% change. Currently, MMM carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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3M Company (MMM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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