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PSN

Parsons

$36.15

-1 (-2.69%)

06:38
08/13/19
08/13
06:38
08/13/19
06:38

Parsons reports Q2 adj. EPS 43c, consensus 57c

Reports Q2 revenue $990M, consensus $953.85M. "We reported strong Q2 results in both our Federal Solutions and Critical Infrastructure markets," said Chuck Harrington, Chairman, CEO and President of Parsons Corporation. "Our margin expansion continues and our ability to win new business and grow existing contracts is enabling us to build backlog and drive top-line growth in high priority markets. Our focus on cyber, intelligence, space and intelligent transportation markets and growing our artificial intelligence, autonomous systems (including hypersonics), cloud computing and IoT technologies are paying off with contract wins and award fees. The strategic acquisition of QRC enhances our existing products portfolio, expands our presence in the important U.S. special operations and intelligence communities, and improves our revenue growth and margin profile. Our robust balance sheet ideally positions us for continued investment in our strategic initiatives."

  • 13

    Aug

PSN Parsons
$36.15

-1 (-2.69%)

06/03/19
JEFF
06/03/19
INITIATION
Target $38
JEFF
Buy
Parsons initiated with a Buy at Jefferies
Jefferies analyst Sheila Kahyaoglu started Parsons with a Buy rating and $38 price target. The analyst expects double-digit EBITDA growth and views the company's free cash flow as "compelling." With 75 years of history and a "deep" technology bench, Parsons is well positioned to outperform, Kahyaoglu tells investors in a research note.
06/03/19
RHCO
06/03/19
INITIATION
Target $37
RHCO
Buy
Parsons initiated with a Buy at SunTrust
SunTrust analyst Tobey Sommer initiated Parsons with a Buy rating and a price target of $37, saying he is positive on the company's "successful" sales mix shift. The analyst notes Parsons' increased exposure to the faster growing cyber, space, and intel work within Federal Solutions expected to fuel its margin and multiple expansion. Sommer adds that Parsons is "growing rapidly" in an industry with fewer small-cap names and sees its $3.1B market cap along with a "strong" organic growth profile potentially fitting the "void" for investors in search of exposure to government services solutions.
06/26/19
WELS
06/26/19
DOWNGRADE
WELS
Market Perform
Parsons downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Edward Caso downgraded Parsons to Market Perform from Outperform.
06/26/19
06/26/19
DOWNGRADE

Market Perform
Parsons downgraded to Market Perform on valuation at Wells Fargo
As previously reported, Wells Fargo analyst Edward Caso downgraded Parsons to Market Perform from Outperform, as the share now exceed his previous $36 price target. The analyst remains positive on the company's management, positioning, and the upward bias of expectations.

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