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

Parsons (NYSE:PSN) released its quarterly earnings results on Wednesday. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.12, Briefing.com reports. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. Parsons updated its FY 2025 guidance to EPS.

Parsons Trading Up 1.8%

Shares of Parsons stock traded up $1.49 during midday trading on Friday, reaching $83.57. 56,635 shares of the company’s stock traded hands, compared to its average volume of 1,284,659. The stock has a 50 day moving average of $81.91 and a 200-day moving average of $75.07. Parsons has a 12 month low of $54.56 and a 12 month high of $114.20. The company has a market cap of $8.92 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 4.36 and a beta of 0.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.61 and a current ratio of 1.67.

Analyst Upgrades and Downgrades

PSN has been the subject of several research reports. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. KeyCorp upped their price objective on shares of Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Robert W. Baird boosted their price target on shares of Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Truist Financial raised their price objective on shares of Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Baird R W raised shares of Parsons from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Parsons presently has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in Parsons by 151.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after acquiring an additional 639,481 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Parsons by 66.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 713,919 shares of the company’s stock valued at $51,238,000 after purchasing an additional 284,831 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Parsons by 6.7% during the second quarter. Raymond James Financial Inc. now owns 309,693 shares of the company’s stock valued at $22,227,000 after purchasing an additional 19,547 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Parsons by 30.5% in the 2nd quarter. Vident Advisory LLC now owns 239,539 shares of the company’s stock worth $17,192,000 after purchasing an additional 55,976 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Parsons by 77.4% in the 2nd quarter. First Trust Advisors LP now owns 184,084 shares of the company’s stock worth $13,212,000 after buying an additional 80,316 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.