Parsons (NYSE:PSN) Announces Earnings Results

Parsons (NYSE:PSN) announced its quarterly earnings data on Tuesday. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.35), Fidelity Earnings reports. Parsons had a negative return on equity of 11.53% and a net margin of 2.97%. The business had revenue of $928.90 million for the quarter, compared to analyst estimates of $1.02 billion. The business’s revenue was down 10.5% on a year-over-year basis. Parsons updated its FY 2020
Pre-Market guidance to EPS.

Shares of Parsons stock opened at $32.91 on Wednesday. Parsons has a 52-week low of $29.03 and a 52-week high of $45.40. The stock has a 50-day simple moving average of $41.61 and a 200-day simple moving average of $38.42.

PSN has been the subject of a number of research reports. Cowen restated a “buy” rating and set a $40.00 price objective on shares of Parsons in a research report on Wednesday. Zacks Investment Research lowered Parsons from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Stifel Nicolaus upgraded Parsons from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday. Wells Fargo & Co lowered Parsons from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $39.00 to $42.00 in a report on Thursday, January 9th. Finally, SunTrust Banks lifted their price target on Parsons to $44.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.50.

About Parsons

Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.

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Earnings History for Parsons (NYSE:PSN)

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