Parsons (PSN) Set to Announce Quarterly Earnings on Wednesday

Parsons (NYSE:PSN) is scheduled to be announcing its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.55 per share for the quarter. Parsons has set its FY 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.13. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, analysts expect Parsons to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Parsons Stock Up 1.8 %

Shares of PSN stock opened at $79.30 on Wednesday. The stock has a 50 day moving average of $80.43 and a 200-day moving average of $68.78. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.39 billion, a PE ratio of 55.85, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. Parsons has a 12 month low of $42.22 and a 12 month high of $85.44.

Analyst Ratings Changes

PSN has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. KeyCorp increased their target price on Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Truist Financial raised their price target on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. Finally, Robert W. Baird raised their price target on Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

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.