Parsons Co. (NYSE:PSN) Receives $43.60 Consensus Price Target from Analysts

Shares of Parsons Co. (NYSE:PSN) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $43.60.

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

Several institutional investors have recently made changes to their positions in PSN. Prudential Financial Inc. grew its position in shares of Parsons by 8.0% during the 2nd quarter. Prudential Financial Inc. now owns 5,879 shares of the company’s stock valued at $231,000 after buying an additional 436 shares during the last quarter. Voya Investment Management LLC grew its position in Parsons by 4.9% in the 3rd quarter. Voya Investment Management LLC now owns 9,511 shares of the company’s stock worth $321,000 after purchasing an additional 445 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in shares of Parsons by 2.0% in the third quarter. Carroll Financial Associates Inc. now owns 32,312 shares of the company’s stock valued at $1,090,000 after purchasing an additional 635 shares during the period. Wrapmanager Inc. raised its holdings in shares of Parsons by 5.8% during the second quarter. Wrapmanager Inc. now owns 11,580 shares of the company’s stock valued at $456,000 after buying an additional 637 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Parsons by 3.6% in the 2nd quarter. Bank of Montreal Can now owns 20,869 shares of the company’s stock worth $831,000 after buying an additional 722 shares in the last quarter.

PSN traded down $0.41 on Thursday, hitting $35.23. 215,906 shares of the company were exchanged, compared to its average volume of 411,988. Parsons has a fifty-two week low of $30.86 and a fifty-two week high of $45.01. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 65.24, a P/E/G ratio of 3.13 and a beta of 1.06. The business has a fifty day moving average price of $35.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, November 3rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Parsons had a net margin of 1.54% and a return on equity of 8.05%. The company had revenue of $956.05 million for the quarter, compared to analyst estimates of $959.00 million. During the same quarter last year, the company posted $0.58 EPS. Parsons’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, sell-side analysts predict that Parsons will post 1.53 earnings per share for the current fiscal 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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