In yesterday’s Wall Street session, Parsons Corporation (NYSE:PSN) shares traded at $53.99, down -0.79% from the previous session.
10 analysts cover Parsons Corporation (NYSE:PSN), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $66.00 and a low of $46.00, we find $55.00. Given the previous closing price of $54.42, this indicates a potential upside of 1.07 percent. PSN stock price is now 14.41% away from the 50-day moving average and 18.10% away from the 200-day moving average. The market capitalization of the company currently stands at $5.42B.
The stock has received a hold rating from 3 analysts and a buy rating from 5. Brokers who have rated the stock have averaged $56.00 as their price target over the next twelve months.
With the price target enhanced from $50 to $60, Truist Upgraded its rating from Hold to Buy for Parsons Corporation (NYSE: PSN).
In other news, Ball George L., Chief Financial Officer bought 70,000 shares of the company’s stock on Aug 05. The stock was bought for $2,905,000 at an average price of $41.50. Upon completion of the transaction, the Chief Financial Officer now directly owns 122,857 shares in the company, valued at $6.63 million. Insiders disposed of 17,469 shares of company stock worth roughly $0.94 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PSN stock. A new stake in Parsons Corporation shares was purchased by CHANNING CAPITAL MANAGEMENT, LLC during the first quarter worth $74,573,000. AMERICAN CENTURY COMPANIES INC invested $25,716,000 in shares of PSN during the first quarter. In the first quarter, FREEMONT MANAGEMENT S.A. acquired a new stake in Parsons Corporation valued at approximately $6,857,000. SG CAPITAL MANAGEMENT LLC acquired a new stake in PSN for approximately $4,530,000. SQUAREPOINT OPS LLC purchased a new stake in PSN valued at around $2,542,000 in the second quarter. In total, there are 293 active investors with 99.48% ownership of the company’s stock.
On Thursday morning Parsons Corporation (NYSE: PSN) stock kicked off with the opening price of $54.42. During the past 12 months, Parsons Corporation has had a low of $38.67 and a high of $54.86. As of last week, the company has a debt-to-equity ratio of 0.36, a current ratio of 1.60, and a quick ratio of 1.60. According to the stock market information, the enterprise value for the company is $5.88B, which is based on a 60.53 price-to-earnings ratio, a 5.60 price-to-earnings-growth ratio, and a beta of 0.81. The fifty day moving average price for PSN is $47.38 and a two-hundred day moving average price translates $45.78 for the stock.
The latest earnings results from Parsons Corporation (NYSE: PSN) was released for Jun, 2023. According to the Information Technology Services Company, earnings per share came in at $0.63, beating analysts’ expectations of $0.51 by 0.12. This compares to $0.20 EPS in the same period last year. The net profit margin was 2.30% and return on equity was 5.10% for PSN. The company reported revenue of $1.36 billion for the quarter, compared to $1.01 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 34.48 percent. For the current quarter, analysts expect PSN to generate $1.21B in revenue.
Parsons Corporation(PSN) Company Profile
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 cybersecurity; missile defense technical solutions; C5ISR; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; nuclear and chemical waste remediation; border security and critical infrastructure protection; counter unmanned air systems; and biometrics and biosurveillance solutions to U.S. Department of Defense, including military services; Missile Defense Agency, the Department of Energy; the Department of State; the Department of Homeland Security, and the Federal Aviation Administration. Further, it provides integrated traffic solutions for arterials, smart intersections, airport landside, ports, and tolling integrators; systems optimization, communications-based train control, rail system design and system assurance services; engineering, program management, and environmental solutions to private sector industrial clients and public utilities; digital transformation, advisory services, AI/ML, and digital twin and cyber services; planning, engineering, and management services for infrastructure, including bridges and tunnels, roads and highways, water and wastewater, and dams and reservoirs. Parsons Corporation was founded in 1944 and is headquartered in Centreville, Virginia.
