Dahlman Rose & Co. Fine-Tunes Saia Estimates

Saia, Inc.

reported 3Q EPS of $0.16, “above our estimate of $0.12 and consensus of $0.15,” Dahlman Rose & Co. reports. “The company's earnings saw notable improvement over the breakeven results posted in the prior year,” Dahlman Rose & Co. writes. “Revenues were $235MM, a 6% increase from last year and in-line with our and consensus estimates.” Dahlman Rose & Co. said that it is fine-tuning its estimates for 2010 to $0.18 from $0.15 and maintains its 2011 estimates of $1.40. “Our price target remains unchanged at $19 as we have chosen to apply a 13.5x multiple on our 2011 EPS estimate,” Dahlman Rose & Co. adds. “We continue to recommend the Georgia based carrier's shares for investors who wish to have exposure to the less-than-truckload segment of the trucking industry.” Saia currently trades at $14.56.