3M’s first-quarter earnings

In a press release on April 21, 3M (MMM) said that it will announce its first-quarter earnings results before the market opens on April 25. The company’s management will hold a conference call on the same day at 8:00 AM EST to discuss the results.

In this series, we’ll discuss 3M’s stock performance since its fourth-quarter earnings and review analysts’ revenue and earnings estimates for the first quarter. We’ll also discuss analysts’ latest recommendations on 3M stock.

3M’s Stock Performance since Its Q4 Earnings

Sign up for Bagels & Stox, our witty take on the top market and investment news, straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

3M’s stock performance

3M announced its fourth-quarter earnings on January 29. Since then, the stock has risen ~11.4%. In comparison, Stanley Black & Decker (SWK), Honeywell (HON), and General Electric (GE) have risen 20.2%, 21.2%, and 9.0%, respectively. Although 3M has underperformed a few of its peers, it has marginally outperformed the S&P 500 (SPY), which has risen 11.1% during the same period.

3M stock has moved up due to the positive developments in its business. 3M acquired M*Modal and entered into several collaborations, which will likely drive its future growth. Declining sales in a few of 3M’s reporting segments, the strong dollar movement, and the increase in raw material prices pose a challenge. Analysts seem to be cautious about the stock. 3M downgraded its earnings three times in 2018. If 3M can outperform analysts’ expectations, then the stock could see an upward trajectory.

Moving averages

As of April 23, 3M was trading 8.5% above its 100-day moving average of $202.35. 3M’s 14-day relative strength index of 68 indicates that the stock is moving closer to the overbought position and could trigger a sell-off.

Latest articles

23 Jul

Google Ups the Ante for Ad Targeting

WRITTEN BY Ruchi Gupta

Google has announced that it's going to start adding third-party ad targeting and browser privacy restrictions to Google Chrome.

23 Jul

Will Fortinet Beat Q2 Earnings Estimates?

WRITTEN BY Aditya Raghunath

Leading cybersecurity company Fortinet (FTNT) is scheduled to announce its second-quarter earnings results on August 1. What should we expect?

Harley-Davidson’s Q2 earnings were slightly better than estimates.

Netflix (NFLX) has long relied on international markets to drive its streaming video business growth.

23 Jul

Could Ford’s Q2 Earnings Push Its Stock Even Higher?

WRITTEN BY Mohit Oberoi, CFA

Ford's second-quarter earnings results are scheduled for release on July 24. So far, Ford stock has outperformed its legacy peers.

23 Jul

Why RBC Isn't Optimistic about BlackBerry Stock

WRITTEN BY Aditya Raghunath

Shares of BlackBerry (BB) have been volatile over the last 12 months. BlackBerry stock fell 40.5% from $12.0 in September 2018 to $6.57 in December.