China's BYD Electronic nine-month profit falls 69%

Overview

• Chinese electronics manufacturer's nine-month revenue rose 3% yr/yr

• Net income attributable to equity owners dropped 69% yr/yr

Outlook

• Company did not provide specific guidance or outlook for future periods in its press release

Result Drivers

• Company did not provide any specific reason for the results in its press release

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 4 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the electronic equipment & parts peer group is "buy."

• Wall Street's median 12-month price target for Byd Electronic (International) Co Ltd is HK$31.33, about 40.8% above its October 29 closing price of HK$22.24

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)