Parsons Corp Expected to Earn Q1 2019 Earnings of $0.12 Per Share (NYSE:PSN)

Parsons Corp (NYSE:PSN) – SunTrust Banks issued their Q1 2019 earnings per share (EPS) estimates for Parsons in a note issued to investors on Monday, June 3rd, Zacks Investment Research reports. SunTrust Banks analyst T. Sommer forecasts that the company will post earnings per share of $0.12 for the quarter. SunTrust Banks has a “Buy” rating and a $37.00 price objective on the stock. SunTrust Banks also issued estimates for Parsons’ Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.32 EPS, Q1 2020 earnings at $0.12 EPS, Q2 2020 earnings at $0.26 EPS, Q3 2020 earnings at $0.40 EPS, Q4 2020 earnings at $0.47 EPS, FY2020 earnings at $1.25 EPS and FY2021 earnings at $1.45 EPS.

Parsons (NYSE:PSN) last released its earnings results on Saturday, May 18th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.44. The firm had revenue of $904.41 million during the quarter, compared to analysts’ expectations of $884.47 million.

A number of other research firms have also recently commented on PSN. Wells Fargo & Co cut Parsons from an “outperform” rating to a “market perform” rating and set a $36.00 target price for the company. in a research note on Wednesday. They noted that the move was a valuation call. Cowen assumed coverage on Parsons in a research note on Monday, June 3rd. They issued an “outperform” rating and a $35.00 target price for the company. Bank of America assumed coverage on Parsons in a research note on Monday, June 3rd. They set a “neutral” rating for the company. Morgan Stanley assumed coverage on Parsons in a research note on Monday, June 3rd. They set an “equal weight” rating and a $35.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on Parsons in a research note on Monday, June 3rd. They set a “buy” rating and a $38.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $37.33.

Shares of PSN traded down $0.15 on Thursday, reaching $36.86. The stock had a trading volume of 2,846,934 shares, compared to its average volume of 818,921. The company’s 50-day moving average price is $32.74. Parsons has a 12-month low of $29.03 and a 12-month high of $38.33.

In related news, CFO George L. Ball acquired 25,000 shares of the stock in a transaction on Thursday, May 9th. The stock was acquired at an average price of $29.40 per share, for a total transaction of $735,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

About Parsons

Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.

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Earnings History and Estimates for Parsons (NYSE:PSN)

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