Sumitomo Rubber closing western New York tire plant and cutting 1,550 jobs

SMFG Stock  USD 14.27  0.21  1.49%   
Roughly 61% of all Sumitomo Mitsui's stockholders are looking to take a long position. The analysis of overall sentiment of trading Sumitomo Mitsui Financial stock suggests that some investors are interested at this time. The current market sentiment, together with Sumitomo Mitsui's historical and current headlines, can help investors time the market. In addition, many technical investors use Sumitomo Mitsui Financial stock news signals to limit their universe of possible portfolio assets.
  
Sumitomo Rubber announced Thursday it will close its western New York tire manufacturing plant and eliminate all 1,550 union and salaried jobs. The Japan-based company said attempts to control costs, along with investments in the aging facility, had failed to offset mounting financial losses. Sumitomo had recently invested 140 million in the facility, including 129 million in 2022, according to Erie County Executive Mark Poloncarz.

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Sumitomo Mitsui Investor Sentiment by Other News Outlets

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Sumitomo Mitsui Fundamental Analysis

We analyze Sumitomo Mitsui's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Sumitomo Mitsui using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Sumitomo Mitsui based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.

Target Price

Target Price Comparative Analysis

Sumitomo Mitsui is currently under evaluation in target price category among its peers.

Sumitomo Mitsui Financial Potential Pair-trading

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Sumitomo Mitsui stock to make a market-neutral strategy. Peer analysis of Sumitomo Mitsui could also be used in its relative valuation, which is a method of valuing Sumitomo Mitsui by comparing valuation metrics with similar companies.

Peers

Sumitomo Mitsui Related Equities

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UBSUBS Group   0.19   
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JPM-PCJPMorgan Chase   0.08   
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HSBCHSBC Holdings   0.82   
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BCSBarclays PLC   2.63   
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NWGNatwest Group   3.04   
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SANBanco Santander   4.01   
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