Parsons Corporation (NYSE:PSN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Parsons Corporation has received a consensus rating of "Moderate Buy" from analysts, with 8 buy ratings, 2 strong buy ratings, and 4 hold ratings from 14 analysts covering the stock.
• The average 12-month price target set by brokerages for Parsons shares is $90.80, with recent adjustments bringing some target prices as high as $100.00.
• Parsons recently reported earnings per share (EPS) of $0.78, surpassing analyst expectations of $0.74, although revenue has decreased by 5.1% year over year.

Parsons Corporation (NYSE:PSN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fourteen analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $90.80.

PSN has been the subject of a number of research reports. Raymond James Financial raised shares of Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 target price for the company in a report on Tuesday, July 8th. Jefferies Financial Group upped their target price on shares of Parsons from $70.00 to $80.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. Baird R W raised shares of Parsons from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Stifel Nicolaus assumed coverage on shares of Parsons in a report on Tuesday, June 24th. They set a "buy" rating and a $81.00 target price for the company. Finally, Truist Financial upped their price objective on shares of Parsons from $90.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, September 30th.

Institutional Investors Weigh In On Parsons

A number of hedge funds have recently modified their holdings of PSN. Fifth Third Bancorp grew its holdings in shares of Parsons by 1,803.4% in the first quarter. Fifth Third Bancorp now owns 552 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares during the period. UMB Bank n.a. grew its holdings in shares of Parsons by 238.7% in the first quarter. UMB Bank n.a. now owns 552 shares of the company's stock valued at $33,000 after purchasing an additional 389 shares during the period. Banque Transatlantique SA purchased a new stake in shares of Parsons in the first quarter valued at about $34,000. True Wealth Design LLC grew its holdings in shares of Parsons by 63.9% in the second quarter. True Wealth Design LLC now owns 485 shares of the company's stock valued at $35,000 after purchasing an additional 189 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Parsons by 63.1% in the first quarter. Signaturefd LLC now owns 610 shares of the company's stock valued at $36,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 98.02% of the company's stock.

Parsons Price Performance

Parsons stock opened at $85.93 on Monday. Parsons has a 52-week low of $54.56 and a 52-week high of $114.68. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 4.51 and a beta of 0.64. The company has a fifty day simple moving average of $80.16 and a 200-day simple moving average of $72.33. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. Parsons had a net margin of 3.70% and a return on equity of 12.36%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company's revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Parsons will post 3.58 EPS for the current fiscal year.

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.

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