Parsons (PSN) Set to Announce Quarterly Earnings on Wednesday

Parsons (NYSE:PSN) is set to issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.55 per share for the quarter. Parsons has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, analysts expect Parsons to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Parsons Price Performance

Shares of PSN opened at $79.30 on Wednesday. The business’s 50-day moving average is $80.43 and its 200-day moving average is $68.78. Parsons has a fifty-two week low of $42.22 and a fifty-two week high of $85.44. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 55.85, a P/E/G ratio of 3.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52.

Analyst Ratings Changes

PSN has been the topic of a number of research reports. Truist Financial increased their price objective on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. KeyCorp lifted their price target on shares of Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. The Goldman Sachs Group lifted their price target on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird raised their price objective on shares of Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

About Parsons

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.