- Parsons Corporation (PSN, Financial) beats EPS expectations with strong Q1 performance.
- Analysts maintain an "Outperform" rating with significant upside potential.
- The company's substantial backlog suggests robust future growth prospects.
Parsons Corporation (PSN) surprised the market with a notable first-quarter performance, reporting a GAAP EPS of $0.60. This surpassed analysts' expectations by $0.12. Despite a modest 1% year-over-year increase in revenue to $1.55 billion, the company missed projections by $70 million. However, Parsons' record backlog of $9.1 billion, bolstered by a strong book-to-bill ratio, signals promising future growth.
Wall Street Analysts Forecast
Wall Street analysts remain optimistic about Parsons Corp (PSN, Financial), as reflected in the one-year average price target of $79.45. This average target, derived from the insights of 9 analysts, indicates a potential upside of 15.72% from the current trading price of $68.66. Notably, the high estimate reaches $100.00, while the low estimate stands at $58.00. Investors can explore more detailed data on the Parsons Corp (PSN) Forecast page.
According to consensus recommendations from 11 brokerage firms, Parsons Corp maintains an average brokerage recommendation score of 2.1. This rating signifies an "Outperform" status, using a scale where 1 indicates a Strong Buy and 5 represents a Sell.
Evaluating the stock's intrinsic value, GuruFocus estimates Parsons Corp's (PSN, Financial) GF Value at $78.18 in one year. This suggests a potential 13.87% upside from the current price of $68.66. The GF Value metric combines historical stock multiples, past business growth, and future performance projections to determine a fair trading value. Investors can find further insights on the Parsons Corp (PSN) Summary page.
