How 3M Stock Trended after Its 3Q17 Earnings



3M to announce its 4Q17 earnings

In a press release, 3M (MMM) noted that it plans to announce its 4Q17 earnings on January 25, 2018, before the market opens. The company’s management plans to hold a conference on the same day to discuss these earnings.

In this series, we’ll look at 3M’s stock performance since its 3Q17 earnings release. We’ll review analysts’ revenue and earnings estimates for 4Q17, and we’ll also discuss the latest analyst recommendations.

On October 24, 2017, 3M announced its 3Q17 earnings and gained 5.9%. Since then, 3M stock has gained ~5.8% through January 19, 2018. The company has underperformed the SPDR S&P 500 ETF (SPY), which gained 9.3%. 

Plus, 3M underperformed its peers Danaher (DHR) and Stanley Black & Decker (SWK), which gained 10.6% and 6.1%, respectively. However, 3M outperformed General Electric (GE), which has fallen 24.7% during the same timeframe.

The company’s stock gained on its reiteration of its fiscal 2017 earnings to be $9.00–$9.10, as well as its strong EPS (earnings per share) guidance for 2018 of $9.60–$10.00. The completion of the Scott Safety business from Johnson Controls (JCI) also helped to push 3M’s stock price up.

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Moving averages and RSI

The robust gain in 3M’s stock price resulted in its stock trading 9.6% above its 100-day moving average price of $226.36. The company’s 14-day relative strength index (or RSI) of 72 indicates that the stock has moved into “overbought” territory.

In the next part, we’ll look into analysts’ revenue expectations for 3M in 4Q17.


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