3M Stock Falls Further Despite Smaller Market Losses As Earnings Set to Drop

3M (MMM) stock fell 1.59% despite broader market losses of 1.37% for the S&P 500 and 1.29% for the Dow.
3M has lagged the market recently, down 15.64% over the past month versus a 4.93% loss for the S&P 500.
For Q4, analysts expect 3M's earnings per share to fall 13.01% year-over-year to $2.34, on 7.24% lower revenue of $8 billion.
For the full year, consensus estimates call for EPS of $8.95, down 11.39%, and revenue of $31.71 billion, down 7.37%.
3M stock trades at a forward P/E of 10.09, representing a discount versus its industry average P/E of 15.55.

yahoo.com

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Posted 10/3/2023, 9:45:21 PM

3M Stock Falls Further Despite Smaller Market Losses As Earnings Set to Drop

3M (MMM) stock fell 1.59% despite broader market losses of 1.37% for the S&P 500 and 1.29% for the Dow.
3M has lagged the market recently, down 15.64% over the past month versus a 4.93% loss for the S&P 500.
For Q4, analysts expect 3M's earnings per share to fall 13.01% year-over-year to $2.34, on 7.24% lower revenue of $8 billion.
For the full year, consensus estimates call for EPS of $8.95, down 11.39%, and revenue of $31.71 billion, down 7.37%.
3M stock trades at a forward P/E of 10.09, representing a discount versus its industry average P/E of 15.55.

yahoo.com

Relevant topic timeline:

9/1/2023

Boeing (BA) Stock Sinks As Market Gains: What You Should Know

9/5/2023

The Charles Schwab Corporation (SCHW) Dips More Than Broader Markets: What You Should Know

The Charles Schwab Corporation closed at $59.68, down 1.36% from the previous day, and is expected to report lower earnings and revenue in its upcoming release.

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9/27/2023

3M Stock Underperforms as Earnings Expected to Decline

3M (MMM) closed at $93.46, down 0.45% from the previous session, with a projected year-over-year decline in earnings of 12.64% and revenue of 6.91% for the next quarter, and a Zacks Rank #3 (Hold).

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NIO Stock Drops Despite Flat Market as Earnings Estimates Decline

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Upstart Holdings Stock Underperforms as Earnings Rise but Revenue Declines