SunTrust Banks Equities Analysts Reduce Earnings Estimates for Saia Inc (NASDAQ:SAIA)
Saia Inc (NASDAQ:SAIA) – Equities research analysts at SunTrust Banks cut their Q2 2019 EPS estimates for Saia in a note issued to investors on Wednesday, June 12th. SunTrust Banks analyst S. Benjamin now anticipates that the transportation company will post earnings per share of $1.34 for the quarter, down from their previous estimate of $1.37. SunTrust Banks also issued estimates for Saia’s Q3 2019 earnings at $1.33 EPS, FY2019 earnings at $4.67 EPS, Q1 2020 earnings at $0.92 EPS, Q2 2020 earnings at $1.46 EPS and FY2020 earnings at $5.07 EPS.
A number of other research firms have also weighed in on SAIA. ValuEngine raised shares of Saia from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Zacks Investment Research raised shares of Saia from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, February 21st. BidaskClub raised shares of Saia from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Stephens set a $71.00 price target on shares of Saia and gave the company a “hold” rating in a report on Thursday, May 2nd. Finally, Wolfe Research raised shares of Saia from a “market perform” rating to an “outperform” rating in a report on Thursday, April 11th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $72.58.
Saia (NASDAQ:SAIA) last released its quarterly earnings results on Wednesday, May 1st. The transportation company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.05). The firm had revenue of $410.60 million for the quarter, compared to analyst estimates of $410.25 million. Saia had a net margin of 6.35% and a return on equity of 15.59%. Saia’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of SAIA. BlackRock Inc. lifted its position in shares of Saia by 1.5% in the 1st quarter. BlackRock Inc. now owns 3,766,070 shares of the transportation company’s stock worth $230,105,000 after buying an additional 54,840 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Saia by 18.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,381,118 shares of the transportation company’s stock worth $84,386,000 after buying an additional 215,939 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Saia by 0.6% in the 4th quarter. Jennison Associates LLC now owns 1,083,062 shares of the transportation company’s stock worth $60,457,000 after buying an additional 5,925 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Saia by 13.1% in the 1st quarter. Wells Fargo & Company MN now owns 899,004 shares of the transportation company’s stock worth $54,928,000 after buying an additional 103,973 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Saia by 1.8% in the 1st quarter. Victory Capital Management Inc. now owns 836,546 shares of the transportation company’s stock worth $51,113,000 after buying an additional 14,784 shares during the last quarter.
In other Saia news, VP Paul C. Peck sold 1,265 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $68.00, for a total transaction of $86,020.00. Following the transaction, the vice president now directly owns 1,128 shares in the company, valued at approximately $76,704. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides regional and interregional less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services.
Further Reading: P/E Growth (PEG)
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