Parsons (PSN) to Release Quarterly Earnings on Wednesday

Parsons (NYSE:PSNGet Free Report) is scheduled to be posting its 12/31/2023 quarterly earnings results before the market opens on Wednesday, February 14th. Analysts expect Parsons to post earnings of $0.56 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Parsons Stock Performance

NYSE:PSN opened at $68.26 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.45 and a quick ratio of 1.45. The business has a fifty day simple moving average of $64.17 and a two-hundred day simple moving average of $59.74. Parsons has a 1 year low of $40.61 and a 1 year high of $68.55. The company has a market capitalization of $7.16 billion, a P/E ratio of 53.33, a P/E/G ratio of 2.05 and a beta of 0.80.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Parsons by 56.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,931,806 shares of the company’s stock valued at $158,924,000 after acquiring an additional 1,420,028 shares in the last quarter. Norges Bank bought a new stake in shares of Parsons in the 4th quarter worth approximately $31,511,000. Lord Abbett & CO. LLC bought a new stake in shares of Parsons in the 1st quarter worth approximately $20,520,000. Vanguard Group Inc. boosted its position in shares of Parsons by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 3,128,822 shares of the company’s stock worth $121,084,000 after purchasing an additional 412,992 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Parsons in the 4th quarter worth approximately $17,327,000. Hedge funds and other institutional investors own 98.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Parsons from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. Robert W. Baird raised Parsons from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $68.00 to $75.00 in a report on Tuesday, January 16th. Raymond James raised their price target on Parsons from $62.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Stifel Nicolaus raised their price target on Parsons from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Finally, Truist Financial lifted their price objective on Parsons from $66.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Get Our Latest Stock Analysis on Parsons

About Parsons

(Get Free Report)

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 cybersecurity; missile defense technical solutions; C5ISR; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; nuclear and chemical waste remediation; border security and critical infrastructure protection; counter unmanned air systems; and biometrics and biosurveillance solutions to U.S.

See Also

Earnings History for Parsons (NYSE:PSN)

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