Parsons (NYSE:PSN – Get Rating) posted its quarterly earnings data on Wednesday. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03, MarketWatch Earnings reports. Parsons had a net margin of 2.03% and a return on equity of 8.66%. The company had revenue of $949.10 million during the quarter, compared to analyst estimates of $885.54 million. During the same quarter last year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis.
Shares of NYSE:PSN traded down $0.50 during midday trading on Friday, hitting $37.20. The company’s stock had a trading volume of 308,560 shares, compared to its average volume of 365,416. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 53.91, a PEG ratio of 3.72 and a beta of 0.95. The stock’s 50 day simple moving average is $37.84 and its 200 day simple moving average is $35.05. Parsons has a fifty-two week low of $29.25 and a fifty-two week high of $43.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.58 and a current ratio of 1.63.
PSN has been the subject of several research reports. The Goldman Sachs Group raised their price objective on shares of Parsons from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, April 14th. Bank of America raised shares of Parsons from an “underperform” rating to a “neutral” rating and set a $39.00 price objective for the company in a research note on Friday, March 11th. TheStreet raised shares of Parsons from a “c+” rating to a “b-” rating in a research note on Thursday, March 17th. Stifel Nicolaus started coverage on shares of Parsons in a research note on Thursday, March 17th. They set a “buy” rating for the company. Finally, Truist Financial lowered shares of Parsons from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research note on Friday, April 22nd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.20.
A number of large investors have recently bought and sold shares of PSN. Norges Bank bought a new stake in Parsons during the fourth quarter worth about $13,644,000. Morgan Stanley grew its stake in Parsons by 37.3% during the second quarter. Morgan Stanley now owns 860,025 shares of the company’s stock worth $33,850,000 after buying an additional 233,479 shares during the last quarter. Legal & General Group Plc grew its stake in Parsons by 20.0% during the fourth quarter. Legal & General Group Plc now owns 994,495 shares of the company’s stock worth $33,465,000 after buying an additional 165,623 shares during the last quarter. Geode Capital Management LLC grew its stake in Parsons by 25.6% during the fourth quarter. Geode Capital Management LLC now owns 799,457 shares of the company’s stock worth $26,901,000 after buying an additional 163,131 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Parsons by 209.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 52,220 shares of the company’s stock worth $1,757,000 after buying an additional 35,320 shares during the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.
About Parsons (Get Rating)
Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S.
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