Parsons (PSN) Scheduled to Post Quarterly Earnings on Wednesday

Parsons (NYSE:PSN - Get Free Report) is scheduled to be announcing its earnings results 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.Investors interested in registering for the company's conference call can do so using this link.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.13. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The company's quarterly revenue was up 36.4% compared to the same quarter last year. 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 traded down $0.42 during midday trading on Wednesday, reaching $78.90. The stock had a trading volume of 341,143 shares, compared to its average volume of 884,873. Parsons has a 52 week low of $42.22 and a 52 week high of $85.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52. The firm's 50 day moving average price is $80.56 and its 200-day moving average price is $68.85. The company has a market capitalization of $8.35 billion, a P/E ratio of 55.56, a P/E/G ratio of 3.46 and a beta of 0.85.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their target price on Parsons from $84.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, April 9th. KeyCorp boosted their target price on Parsons from $89.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Robert W. Baird boosted their target price on Parsons from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. Benchmark reiterated a "buy" rating and set a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. Finally, The Goldman Sachs Group lifted their price target on Parsons from $73.00 to $81.00 and gave the company a "neutral" rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Parsons currently has a consensus rating of "Moderate Buy" and an average target price of $79.00.

Parsons 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. 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.