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Jul 09, 2019

3M (MMM, $169.18) stock gets downgraded by RBC Capital Markets to sector perform from outperform

3M Co. shares got a rating downgrade by RBC Capital Markets.

RBC Capital Markets analyst Deane Dray lowered his rating on 3M to sector perform, from a prior rating of outperform. He also slashed his price target on the stock by 15% to $176 per share.

According to Dray, 3M’s reputation of a "defensive, high-quality industrial" is getting eroded.

3M's first quarter earnings had declined -10.8% year-over-year, and its total revenue had fallen -5%. The company had lowered its full-year earnings outlook to a range of $9.25 to $9.75 per share, down from a prior forecast of $10.45 to $10.90 per share. It had also cut its organic sales growth forecast to a range of -1% to +2% from a previous projection of 1% to 4%.

 

Related Ticker: MMM

MMM sees MACD Histogram crosses below signal line

MMM saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on April 01, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 46 instances where the indicator turned negative. In of the 46 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for MMM moved out of overbought territory on March 25, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 26 similar instances where the indicator moved out of overbought territory. In of the 26 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 52 cases where MMM's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

The Momentum Indicator moved below the 0 level on April 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on MMM as a result. In of 92 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

MMM moved below its 50-day moving average on April 01, 2024 date and that indicates a change from an upward trend to a downward trend.

The 50-day moving average for MMM moved below the 200-day moving average on March 22, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

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 .

Bullish Trend Analysis

The 10-day moving average for MMM crossed bullishly above the 50-day moving average on March 15, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 21 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MMM advanced for three days, in of 291 cases, the price rose further within the following month. The odds of a continued upward trend are .

MMM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 188 cases where MMM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued 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: MMM's P/B Ratio (10.823) is very high in comparison to the industry average of (2.131). P/E Ratio (10.772) is within average values for comparable stocks, (18.614). Projected Growth (PEG Ratio) (2.151) is also within normal values, averaging (1.468). Dividend Yield (0.064) settles around the average of (0.102) among similar stocks. P/S Ratio (1.594) is also within normal values, averaging (181.755).

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 SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable 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 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 11.52B. The market cap for tickers in the group ranges from 723 to 131.75B. HON holds the highest valuation in this group at 131.75B. 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 1%. For the same Industry, the average monthly price growth was -1%, and the average quarterly price growth was 84%. LCCN experienced the highest price growth at 186%, while PTEEF experienced the biggest fall at -31%.

Volume

The average weekly volume growth across all stocks in the Metal Fabrication Industry was 79%. For the same stocks of the Industry, the average monthly volume growth was 109% and the average quarterly volume growth was 62%

Fundamental Analysis Ratings

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

Valuation Rating: 40
P/E Growth Rating: 54
Price Growth Rating: 51
SMR Rating: 61
Profit Risk Rating: 70
Seasonality Score: -3 (-100 ... +100)
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MMMDaily Signal changed days agoGain/Loss if shorted
 
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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
85000
Web
https://www.3m.com
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