Parsons Co. (NYSE:PSN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Parsons Co. (NYSE:PSN) have earned an average recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $43.60.

Several research firms have recently weighed in on PSN. Zacks Investment Research upgraded Parsons from a “sell” rating to a “hold” rating in a report on Thursday, November 11th. Morgan Stanley reduced their price target on shares of Parsons from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, September 3rd. Finally, Bank of America downgraded shares of Parsons from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $45.00 to $35.00 in a research report on Thursday, August 12th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Islay Capital Management LLC bought a new position in shares of Parsons during the 2nd quarter worth approximately $112,000. First Bank & Trust acquired a new position in Parsons during the second quarter worth $114,000. Rockefeller Capital Management L.P. grew its position in Parsons by 252.7% in the second quarter. Rockefeller Capital Management L.P. now owns 2,991 shares of the company’s stock valued at $117,000 after purchasing an additional 2,143 shares in the last quarter. Central Bank & Trust Co. acquired a new stake in Parsons in the 3rd quarter valued at $121,000. Finally, Financial Management Professionals Inc. acquired a new stake in Parsons in the 3rd quarter valued at $121,000.

Shares of NYSE PSN traded down $0.41 during midday trading on Thursday, reaching $35.23. 215,906 shares of the stock were exchanged, compared to its average volume of 411,988. Parsons has a 12 month low of $30.86 and a 12 month high of $45.01. The stock has a market capitalization of $3.60 billion, a P/E ratio of 65.24, a price-to-earnings-growth ratio of 3.13 and a beta of 1.06. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average is $35.26.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, November 3rd. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.04). Parsons had a return on equity of 8.05% and a net margin of 1.54%. The business had revenue of $956.05 million for the quarter, compared to analyst estimates of $959.00 million. During the same period in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. Equities research analysts anticipate that Parsons will post 1.53 earnings per share for the current year.

About Parsons

Parsons Corp. provides engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. The firm delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers.

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Analyst Recommendations for Parsons (NYSE:PSN)

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