Parsons (PSN) Set to Announce Quarterly Earnings on Wednesday

Parsons (NYSE:PSN) is scheduled to be issuing its quarterly earnings data 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 participating in the company’s conference call can do so using this link.

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

Parsons Price Performance

Shares of NYSE PSN opened at $79.73 on Monday. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. Parsons has a 52 week low of $42.22 and a 52 week high of $85.44. The business’s 50 day moving average price is $80.76 and its 200 day moving average price is $69.25. The firm has a market cap of $8.44 billion, a P/E ratio of 56.15, a P/E/G ratio of 3.54 and a beta of 0.85.

Analyst Ratings Changes

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

About Parsons

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.