Parsons (NYSE:PSN) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Parsons (NYSE:PSN) posted its quarterly earnings data on Wednesday. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.12, Briefing.com reports. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the business earned $0.95 earnings per share. Parsons’s revenue for the quarter was down 10.4% compared to the same quarter last year. Parsons updated its FY 2025 guidance to EPS.

Parsons Price Performance

Parsons stock traded down $0.79 during mid-day trading on Thursday, hitting $82.12. 1,188,342 shares of the company were exchanged, compared to its average volume of 1,290,633. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $81.86 and a 200 day moving average of $75.02. Parsons has a 1-year low of $54.56 and a 1-year high of $114.20. The company has a market capitalization of $8.77 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 4.18 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSN. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Parsons in a research report on Wednesday, October 8th. Robert W. Baird raised their target price on Parsons from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. KeyCorp raised their target price on Parsons from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Baird R W raised Parsons from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Truist Financial raised their target price on Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and an average price target of $91.40.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in Parsons by 38.0% during the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after acquiring an additional 264 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Parsons by 176.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock worth $59,000 after acquiring an additional 528 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Parsons by 433.9% during the first quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after acquiring an additional 1,024 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Parsons by 960.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,068 shares of the company’s stock worth $148,000 after acquiring an additional 1,873 shares in the last quarter. Finally, Keel Point LLC acquired a new stake in shares of Parsons in the second quarter valued at $208,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

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.