BYD Shares Drop After China's Leading Electric Carmaker Issues Profit Warning (2024)

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BYD Shares Drop After China's Leading Electric Carmaker Issues Profit Warning? ›

BYD Shares Drop After China's Leading Electric Carmaker Issues Profit Warning. (Yicai Global) March 28 -- BYD Co.'s shares have lost more than 8 percent of their value after China's biggest maker of electric vehicles warned of a potential steep decline in first-quarter earnings because of subsidy cuts.

Shares of BYD Co., the Chinese rival to Tesla, fell Tuesday after Warren Buffett further trimmed his holding in the company. The listed Chinese electric vehicle maker slid as much as 2.9% in morning trade in Hong Kong, while the benchmark Hang Seng Index was 0.4% lower. BYD's shares in Shenzhen dropped as much as 2.3%.

OMAHA, Neb. (AP) — Warren Buffett's company has now sold nearly 95 million of its original 225 million shares of Chinese electric carmaker BYD's stock, but it remains a significant shareholder.

Stock Price Forecast

The 2 analysts offering 12-month price forecasts for BYD Co Ltd have a median target of 69.50, with a high estimate of 99.00 and a low estimate of 40.00. The median estimate represents a +18.84% increase from the last price of 58.48.

BYD has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings.

The article explains that partially it's because of tense relations between Washington and Beijing. Additionally, this Summer, the Inflation Reduction Act (IRA) updated the $7,500 federal tax credit incentive, which would not be available for imported BYD electric cars.

Warren Buffett's Berkshire Hathaway sells a million more BYD shares to realize huge profits in the Chinese EV maker.

Sales of BYD's Han sedan rose 132 percent last year.

With sales of 1.86 million cars, it expects a net profit of 16-17 billion yuan ($2.37-$2.52 billion) versus 3 billion yuan in 2021, an exchange filing showed.

In 2022, BYD vehicle sales raced far past Tesla's. Among all-battery electric vehicles, or BEVs, Tesla still leads.

Can you buy BYD stock in the US? ›

If you want to invest in BYD, you can buy BYD stock (stock ticker: BYDDY) through online brokers such as Robinhood, eToro, Charles Schwab, and Fidelity.

BYD Co Ltd-H quote is equal to 29.450 USD at 2023-04-20. Based on our forecasts, a long-term increase is expected, the "BYDDF" stock price prognosis for 2028-04-12 is 69.219 USD. With a 5-year investment, the revenue is expected to be around +135.04%. Your current $100 investment may be up to $235.04 in 2028.

Valuation metrics show that Byd Co., Ltd. may be overvalued. Its Value Score of D indicates it would be a bad pick for value investors. The financial health and growth prospects of BYDDY, demonstrate its potential to underperform the market.

BYD Stock 12 Months Forecast

Based on 13 Wall Street analysts offering 12 month price targets for Boyd Gaming in the last 3 months. The average price target is $74.50 with a high forecast of $81.00 and a low forecast of $62.00. The average price target represents a 17.49% change from the last price of $63.41.

BYD delivered 283,270 plug-in hybrids in Q1, up just more than 100% compared with the first quarter of 2022. The growth is impressive. Tesla delivered 422,875 all-electric vehicles in the first quarter, up about 36% year over year.

One reason is that BYD is located in China, giving it access to one of the world's largest markets with a population of over 1.4 billion. While Tesla sells cars across North America, the EU, and parts of Asia (including China), BYD has the advantage of starting in a larger market.

The intrinsic value of one BYD Co Ltd stock under the Base Case scenario is 280.66 HKD. Is BYD Co Ltd stock undervalued or overvalued? Compared to the current market price of 225.6 HKD, BYD Co Ltd is Undervalued by 20%.

However, BYD's gross margins of $5,456 per vehicle give it more headroom in a price war than VW, Toyota or GM.

BYD is so much ahead of Tesla in China ... it's almost ridiculous,” Munger said. BYD recently said it expects record adjusted annual profit for 2022 of 16.3 billion yuan ($2.4 billion), about 1,200% above 2021. “BYD last year made more than $2 billion after taxes in the auto business in China.

Who is the largest EV company in the world? ›

1. Tesla. With a market cap of over $580 billion, Tesla is the largest EV manufacturer in the world. There are various attributes that differentiate Tesla from other automakers, but the most notable is its supply chain.

BYD overtakes Tesla as world's top EV seller

Chinese EV maker BYD is firing on all cylinders. The company recently overtook Tesla to become the world's top selling EV maker (including PHEV) with 1.87 million deliveries in 2022 compared with 1.3 million for Tesla and BYD may overtake Tesla in terms of BEVs this year.

Feb 2 (Reuters) - Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.55 million Hong Kong-listed shares of electric vehicle maker BYD (002594.SZ) for HK$351.81 million ($44.85 million), a stock exchange filing showed.

BYD, backed by Warren Buffett's Berkshire Hathaway , announced Monday a new technological system for stabilizing car rides through rugged terrain, sharp turns and even shallow water.

Boyd Gaming Corp (NYSE:BYD)

The 14 analysts offering 12-month price forecasts for Boyd Gaming Corp have a median target of 74.50, with a high estimate of 81.00 and a low estimate of 62.00. The median estimate represents a +16.17% increase from the last price of 64.13.

This means that the list of Tesla's battery partners is quite long and includes Panasonic, LG Energy Solution, CATL, and BYD (plus in-house 4680-type cylindrical battery cell production).

Berkshire Hathaway initially purchased its BYD stake in 2008, acquiring 225 million shares for about $232 million.

The Tesla Model Y is #1 again in the electric vehicle market. Registrations were up 10% year over year (YoY) in January, to over 662,000 units.

BYD Company's top competitors include Aptera, Orange EV, and ElevenEs. Aptera specializes in solar electric vehicle manufacturing. The company offers solar vehicles which are a two-seat, and three-wheeled vehicles. Aptera was founded in 20…

China's leading electric vehicle maker is BYD, which ranked second behind Tesla in 2022 in global BEV sales with 911,141 units, compared to the US company's 1,313,851. Get upfront price offers on local inventory.

Where is BYD located in USA? ›

BYD North America's headquarters is located in Downtown Los Angeles, with a 550,000-square-foot bus manufacturing facility in Lancaster, California. BYD started with six U.S. employees in 2013 and has since expanded to over 1,000, including its unionized workforce of 750 in Lancaster, California.

BYD is a publicly traded company with 60% of its stocks owned by U.S. investors. Warren Buffett's Berkshire Hathaway is the largest single shareholder at 8%.

The BYD Atto 3 has all the ingredients here to continue to be a good electric car for the money for the next five years, provided BYD keeps updating it. It is a worthy winner of this category given its price, comfort, roominess and performance – and it shone against the competition.

31, 2022.

Since BYD hit a record high of HK$88.4 in Oct. 2009 and then gave up those gains, the stock hasn't come close to revisiting those levels till this month, when a top industry ministry official said Sept.

According to BYD's latest financial reports and stock price the company's current price-to-sales ratio (TTM) is 1.89221.

China-based Contemporary Amperex Technology Co (CATL) is the world's biggest EV battery maker and is listed on the Shenzhen stock exchange (300750.SZ). The company has a market capitalization of $182 bn, and the stock has marginally ticked higher in the past year. The company has an annual net profit margin of 13.70%.

Berkshire Hathaway initially purchased its BYD stake in 2008, acquiring 225 million shares for about $232 million.

Is BYD company a good long term investment? ›

Byd Co., Ltd. Currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.

BYD's management has yet to give the project a final green light and an aggressive U.S. expansion remains unlikely for the foreseeable future, the source said. "BYD is taking a cautious approach to the U.S.," the person said.

BYD was the biggest winner of the year, with annual sales of 1.86 million electric cars. The company's output was more than triple 2021's figure of around 600,000 units, comfortably exceeding its goal of 1.5 million units. Tesla was left a distant second.

It is BYD, which this year may overtake Tesla as the biggest global seller of pure EVs (not including hybrids, which it also makes). BYD is Toyota's EV partner in China as well as a rising competitor globally.

Buffett's stake in BYD

Charlie Munger, Buffett's longtime business partner, convinced the Omaha billionaire to buy a stake in the company after Munger took a liking to BYD's founder and current CEO Wang Chuanfu. Munger called Wang “a combination of Thomas Edison and Jack Welch” in a 2009 Fortune interview.