Parsons Corporation (NYSE:PSN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Parsons Corporation (NYSE:PSN) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $83.4167.

Several research firms have commented on PSN. Bank of America decreased their price target on shares of Parsons from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, December 30th. Robert W. Baird cut their price objective on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, December 8th. Zacks Research lowered shares of Parsons from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. KeyCorp decreased their target price on shares of Parsons from $80.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a research note on Thursday, January 15th.

Parsons Price Performance

Shares of Parsons stock opened at $58.85 on Thursday. The firm has a market capitalization of $6.23 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.85 and a beta of 0.68. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.45. Parsons has a 12 month low of $56.27 and a 12 month high of $89.50. The business’s 50-day moving average price is $67.12 and its 200-day moving average price is $74.44.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. Sell-side analysts forecast that Parsons will post 3.58 EPS for the current fiscal year.

Institutional Trading of Parsons

Several hedge funds and other institutional investors have recently bought and sold shares of PSN. Mather Group LLC. bought a new stake in shares of Parsons during the 3rd quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new position in Parsons in the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Parsons in the third quarter worth about $40,000. Danske Bank A S purchased a new stake in Parsons in the fourth quarter worth about $31,000. Finally, Los Angeles Capital Management LLC bought a new stake in Parsons during the 4th quarter valued at approximately $32,000. Institutional investors own 98.02% of the company’s stock.

Parsons Company Profile

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.