Wall Street analysts forecast that 3M (MMM) will report quarterly earnings of $2.02 per share in its upcoming release, pointing to a year-over-year increase of 7.5%. It is anticipated that revenues will amount to $6.03 billion, exhibiting an increase of 4.3% compared to the year-ago quarter.
The current level reflects a downward revision of 0.2% 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 release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions 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.
Given this perspective, it's time to examine the average forecasts of specific 3M metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Net Sales- Total Safety and Industrial business segment' to come in at $2.91 billion. The estimate suggests a change of +6% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- Total Consumer business segment' of $1.14 billion. The estimate indicates a year-over-year change of +1.4%.
The average prediction of analysts places 'Operating Income (non-GAAP measures)- Consumer' at $218.97 million. Compared to the present estimate, the company reported $219.00 million in the same quarter last year.
According to the collective judgment of analysts, 'Operating Income (non-GAAP measures)- Transportation and Electronics' should come in at $415.05 million. The estimate compares to the year-ago value of $390.00 million.
Based on the collective assessment of analysts, 'Operating Income (non-GAAP measures)- Safety and Industrial' should arrive at $778.05 million. The estimate is in contrast to the year-ago figure of $699.00 million.
View all Key Company Metrics for 3M here>>>Over the past month, shares of 3M have returned +4.3% versus the Zacks S&P 500 composite's +6% change. Currently, MMM carries a Zacks Rank #3 (Hold), suggesting that its performance may align with 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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