Parsons - PSN Stock Forecast, Price & News

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 cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S. Department of Defense and the United States intelligence community; space and geospatial solutions, such as geospatial intelligence, threat analytics, space situational awareness, small satellite launch and integration, satellite ground systems, fight dynamics, and command, and control solutions to the National Geospatial-Intelligence Agency, National Reconnaissance Office, and multiple units within the U.S. Department of Defense. It also provides missile defense and C5ISR solutions, such as integrated air and missile defense, data fusion and analytics, platform system integration, directed energy, joint all-domain operations, and command and control systems to Defense Intelligence Agency and the U.S. Department of Defense; technology services for energy production systems, aviation, healthcare and bio-surveillance systems, and environmental systems and associated infrastructure, as well as nuclear waste processing and treatment, weapons of mass destruction elimination, program and project management, infectious disease control analytics, and data protection solutions. In addition, the company offers intelligent transportation system management, aviation, rail and transit systems, smart cities software, and critical infrastructure cyber protection to the transportation authorities, rail, and transit entities; engineering services for infrastructure; and program management, and environmental solutions to private-sector industrial clients and public utilities. Parsons Corporation was founded in 1944 and is headquartered in Centreville, Virginia.

Analysts Set New Price Targets

Several equities research analysts recently commented on PSN shares. Truist Financial cut Parsons from a "buy" rating to a "hold" rating and set a $42.00 price target for the company. in a research note on Friday, April 22nd. TheStreet raised Parsons from a "c+" rating to a "b-" rating in a research note on Tuesday, July 19th. Raymond James boosted their price target on Parsons from $43.00 to $46.00 and gave the company an "outperform" rating in a research note on Thursday, August 4th. Benchmark boosted their price target on Parsons to $46.00 in a research note on Tuesday, August 9th. Finally, Morgan Stanley boosted their price target on Parsons from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $42.00.

Parsons Stock Up 2.4 %

Shares of Parsons stock opened at $42.64 on Monday. The stock has a market capitalization of $4.42 billion, a P/E ratio of 53.30, a PEG ratio of 2.14 and a beta of 0.83. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $40.50 and a two-hundred day moving average price of $37.81. Parsons has a 12-month low of $29.25 and a 12-month high of $43.84.

Parsons (NYSE:PSN - Get Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. Parsons had a return on equity of 9.05% and a net margin of 2.26%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $930.97 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company's revenue was up 14.8% on a year-over-year basis. Equities analysts expect that Parsons will post 1.62 earnings per share for the current year.

Insider Transactions at Parsons

In other Parsons news, CFO George L. Ball purchased 70,000 shares of the business's stock in a transaction dated Friday, August 5th. The stock was bought at an average cost of $41.50 per share, for a total transaction of $2,905,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 122,857 shares in the company, valued at $5,098,565.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.