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Abhoy Sarkar's Avatar
published in Blogs
Aug 01, 2022

3M (MMM, $143.21) misses quarterly earnings expectations

3M posted quarterly adjusted earnings of $2.48 per share, lower than the  $2.65 a share that analysts polled by FactSet had expected.  Sales decreased to $8.70 billion from the year-ago quarter’s $8.95 billion and reflected a negative impact from foreign-exchange rates of 4 percentage points. The FactSet consensus estimate was $8.57 billion.

The company slashed its outlook to -2.5% to -0.5% sales growth for the full year, from its prior expectation of  positive growth of 1% to 4%. It also lowered its adjusted EPS forecast to $10.30 to $10.80 compared with a prior forecast for $10.75 to $11.25. "Looking ahead, we updated our adjusted full-year expectations largely due to the strength of the U.S. dollar and uncertain macroeconomic environment," CEO Mike Roman mentioned in a press release. "We remain focused on innovating for customers, driving operational improvements and advancing our environmental stewardship - while positioning 3M for the future through our plan to spin off our Health Care business and resolve Combat Arms litigation in a manner that is efficient and equitable."

Related Ticker: MMM

MMM in upward trend: price may jump up because it broke its lower Bollinger Band on May 31, 2023

MMM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 39 cases where MMM's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where MMM's RSI Oscillator exited the oversold zone, of 34 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 60 cases where MMM's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on June 02, 2023. You may want to consider a long position or call options on MMM as a result. In of 96 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for MMM just turned positive on June 02, 2023. Looking at past instances where MMM's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .

MMM moved above its 50-day moving average on June 02, 2023 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MMM advanced for three days, in of 310 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

Following a 3-day decline, the stock is projected to fall further. Considering past instances where MMM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for MMM entered a downward trend on June 02, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.697) is normal, around the industry mean (2.347). P/E Ratio (10.593) is within average values for comparable stocks, (19.721). MMM's Projected Growth (PEG Ratio) (4.535) is very high in comparison to the industry average of (1.571). Dividend Yield (0.058) settles around the average of (0.040) among similar stocks. P/S Ratio (1.724) is also within normal values, averaging (183.326).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. MMM’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. MMM’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 71, placing this stock worse than average.

Notable companies

The most notable companies in this group are Honeywell International (NASDAQ:HON), 3M Company (NYSE:MMM).

Industry description

The industry is involved in value-added processes including creation of metal structures like machines and parts by cutting, bending and assembling, using various raw materials. A fabrication shop often bids on a project/job, and then builds the product if awarded the contract. Robotics and automation are making their way into the industry apparently to fill in skills gap[s19] . RBC Bearings Incorporated, Timken Company and Valmont Industries, Inc. are some of the largest metal fabrication companies in the U.S.

Market Cap

The average market capitalization across the Metal Fabrication Industry is 10.57B. The market cap for tickers in the group ranges from 723 to 132.37B. HON holds the highest valuation in this group at 132.37B. The lowest valued company is BDGY at 723.

High and low price notable news

The average weekly price growth across all stocks in the Metal Fabrication Industry was 20%. For the same Industry, the average monthly price growth was 3%, and the average quarterly price growth was 15%. GRPXD experienced the highest price growth at 2,512%, while PTEEF experienced the biggest fall at -56%.

Volume

The average weekly volume growth across all stocks in the Metal Fabrication Industry was 126%. For the same stocks of the Industry, the average monthly volume growth was 117% and the average quarterly volume growth was 95%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 38
P/E Growth Rating: 57
Price Growth Rating: 54
SMR Rating: 58
Profit Risk Rating: 71
Seasonality Score: -17 (-100 ... +100)
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Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

an industrial conglomerate which manufactures and distributes consumer products such as papers, electronic gadgets and medical supplies

Industry MetalFabrication

Profile
Fundamentals
Details
Industry
Industrial Conglomerates
Address
3M Center
Phone
+1 651 733-1110
Employees
92000
Web
https://www.3m.com
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MMM and

Correlation & Price change

A.I.dvisor indicates that over the last year, MMM has been closely correlated with HON. These tickers have moved in lockstep 68% of the time. This A.I.-generated data suggests there is a high statistical probability that if MMM jumps, then HON could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To MMM
1D Price
Change %
MMM100%
-4.43%
HON - MMM
68%
Closely correlated
-0.84%
MDU - MMM
53%
Loosely correlated
-0.66%
VMI - MMM
49%
Loosely correlated
-2.54%
MATW - MMM
46%
Loosely correlated
-3.71%
TRC - MMM
45%
Loosely correlated
-4.89%
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