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Strategies & Market Trends : Value Investing
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To: Wallace Rivers who wrote (23299)7/10/2006 12:45:17 PM
From: Paul Senior  Read Replies (2) of 78746
 
I'll use recent drop in MMM (They lowered earnings estimates.) as an opportunity to add a little more today to the few shares I have.

Their lowered low estimate is $4.55 for the year. That gives a p/e estimate of 16.3 on current price. That's relatively low: Going back ten years, the lowest average annual p/e for 3M was 18.3 in 1997.

Of course, 3M might yet cut its estimates further. And if the erstwhile growth company isn't going to grow, then maybe it should be valued, and should trade, at a lower p/e.

finance.yahoo.com
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