Parsons Corporation Quarterly Financial Results
Parsons Corporation (NYSE:PSN) announced its latest quarterly financial results, outperforming analyst estimates with an EPS of $0.78, exceeding predictions by $0.04. Despite a 5.1% decline in revenue year-over-year to $1.58 billion, the company's stock experienced a modest increase of 1.0%, closing at $77.64. Institutional investors hold a significant 98.02% of its shares.
Analyst Outlook and Financial Ratios
Analysts remain optimistic, maintaining a consensus 'Buy' rating and an average price target of $88.70, reflecting confidence in the company's prospects. The firm's return on equity stood at 12.36%, with a net margin of 3.70%. Compared to the previous year's EPS of $0.84, current earnings show a slight decrease.
Trading Activity and Market Valuation
On trading day, Parsons' shares rose by $0.77, with trading volume of approximately 964,569 shares. The company's market capitalization is valued at $8.30 billion, with a P/E ratio of 34.66 and a beta of 0.58. Financial ratios indicate a healthy liquidity position, with a current ratio of 1.61 and a debt-to-equity ratio of 0.47.