Parsons (PSN) Stock Forecast, Price & News

7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Parsons in the last twelve months. There are currently 2 sell ratings, 2 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" PSN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PSN, but not buy additional shares or sell existing shares.
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7 Wall Street research analysts have issued 12-month price targets for Parsons' stock. Their PSN share price forecasts range from $39.00 to $55.00. On average, they anticipate the company's stock price to reach $49.78 in the next year. This suggests a possible upside of 12.7% from the stock's current price.
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Parsons' stock was trading at $46.25 at the beginning of the year. Since then, PSN shares have decreased by 4.5% and is now trading at $44.18.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
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Parsons Co. (NYSE:PSN) posted its earnings results on Wednesday, May, 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm earned $1.17 billion during the quarter, compared to analyst estimates of $1.05 billion. Parsons had a trailing twelve-month return on equity of 8.38% and a net margin of 2.30%.

ETFs with the largest weight of Parsons (NYSE:PSN) stock in their portfolio include SPDR S&P Aerospace & Defense ETF (XAR), Invesco Dynamic Software ETF (PSJ), SPDR S&P Kensho Intelligent Structures ETF (SIMS), First Trust Indxx Aerospace & Defense ETF (MISL), SRH U.S. Quality ETF (SRHQ), ETFMG Prime Cyber Security ETF (HACK), SPDR Kensho Future Security ETF (FITE) and Qraft AI-Enhanced Next Value ETF (NVQ).

Parsons updated its FY 2023 earnings guidance on Wednesday, May, 3rd. The company provided EPS guidance of for the period. The company issued revenue guidance of $4.50 billion-$4.70 billion, compared to the consensus revenue estimate of $4.52 billion.

Based on aggregate information from My MarketBeat watchlists, some companies that other Parsons investors own include NVIDIA (NVDA), Block (SQ), Cisco Systems (CSCO), Alibaba Group (BABA), Boeing (BA), Walt Disney (DIS), Marvell Technology (MRVL), AbbVie (ABBV), Advanced Micro Devices (AMD) and Baidu (BIDU).

(PSN) raised $500 million in an initial public offering (IPO) on Wednesday, May 8th 2019. The company issued 18,500,000 shares at $26.00-$28.00 per share. Goldman Sachs, BofA Merrill Lynch and Morgan Stanley acted as the underwriters for the IPO and Jefferies, Wells Fargo Securities, Cowen, SunTrust Robinson Humphrey, MUFG and Scotiabank were co-managers.

Parsons trades on the New York Stock Exchange (NYSE) under the ticker symbol "PSN."

Parsons' stock is owned by a number of institutional and retail investors. Top institutional investors include Newport Trust Co (59.78%), Mackenzie Financial Corp (2.69%), Channing Capital Management LLC (1.32%), Dimensional Fund Advisors LP (1.16%), New York State Common Retirement Fund (0.91%) and Allspring Global Investments Holdings LLC (0.84%). Insiders that own company stock include Carey A Smith, George L Ball, Harry T Mcmahon and Michael Richard Kolloway.
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Shares of PSN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PSN stock can currently be purchased for approximately $44.18.

Parsons (NYSE:PSN) has a market capitalization of $4.63 billion and generates $4.20 billion in revenue each year. The company earns $96.66 million in net income (profit) each year or $0.92 on an earnings per share basis.

The company employs 17,000 workers across the globe.

Parsons' mailing address is 5875 TRINITY PKWY SUITE 300, CENTREVILLE VA, 20120. The official website for the company is www.parsons.com. The company can be reached via phone at (703) 988-8500 or via email at dave.spille@parsons.com.