CHANTILLY, Va., Dec. 30, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that a team consisting of AECOM, Parsons, STV, Turner & Townsend, Ardmore Roderick, and CAS Consulting (LINC Austin) was selected by the Austin Transit Partnership as Delivery Partner for the $7 billion Austin Light Rail project. Under the initial four-year contract, LINC Austin will provide program and project management, construction management, and technical expert services during the planning, design, procu ...

Core Viewpoint - Parsons Corporation (PSN) has shown a stock price increase of 49.2% over the past year, which is lower than the industry average of 54.6% but higher than the S&P 500's growth of 29.1% [1] Group 1: Stock Performance - PSN's stock performance is better than its peers, Cardlytics, Inc. (CDLX) which declined by 58.7%, and GigaCloud Technology Inc. (GCT) which saw a marginal increase [1] - As of the last trading session, PSN stock closed at $98.3, which is 22.7% lower than its 52-week high of $114.7 [10] Group 2: Acquisitions and Market Expansion - The acquisition of BlackSignal enhances PSN's customer base in the Department of Defense and Intelligence community, strengthening its capabilities in offensive Cyber operations and electronic warfare [3] - PSN has entered into a definitive agreement to acquire BCC Engineering for $230 million, which will bolster its infrastructure leadership and expand its reach in the Southeastern U.S. [12] Group 3: Financial Performance and Guidance - PSN has consistently raised its 2024 revenue guidance over the past three quarters, with the latest projection being $6.6-$6.8 billion, up from earlier estimates [5] - The consensus estimate for PSN's 2024 earnings is $3.4 per share, indicating a 40.7% increase from the previous year [18] - The Zacks Consensus Estimate for 2024 revenues is $6.8 billion, reflecting a 24.2% growth from the prior year [20] Group 4: Valuation Metrics - PSN's stock is currently priced at 26 times forward 12-month earnings per share, which is lower than the industry average of 41.6 times [6] - The trailing 12-month EV-to-EBITDA ratio for PSN is 15.4 times, significantly below the industry's average of 88.5 times [7] Group 5: Returns and Investor Sentiment - PSN's trailing 12-month return on equity (ROE) is 12.7%, surpassing the industry's average of 3.4% [17] - The company's inclination towards acquisitions that expand its customer base while maintaining a strong balance sheet is expected to drive revenue growth and improve margins [19]

CHANTILLY, Va., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded the LTC Hernan G. Pesquera Army Reserve Center Microgrid contract by the United States Army Corps of Engineers (USACE) Louisville District. The $20 million contract, including base plus options, to enhance energy resilience and sustainability for the Pesquera Army Reserve Center in Puerto Rico consists of a 610-day period of performance and is new work for the company. Under this co ...

Milestone Event Combines Autonomous Systems and Threat Emulation CapabilitiesCHANTILLY, Va., Dec. 16, 2024 (GLOBE NEWSWIRE) -- In a groundbreaking initiative to enhance U.S. Air Force training operations, Parsons Corporation (NYSE: PSN), in collaboration with the University of Southern Mississippi, the Mississippi Air National Guard, and SeaTrac Systems, has integrated the company’s Threat Representative Environment (TReX) emulator onto a remotely operated SeaTrac Unmanned Surface Vehicle (USV) during marit ...

CHANTILLY, Va. , Dec. 11, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that California Department of Transportation (Caltrans) has selected the company to perform professional and technical services. This $23 million contract will provide “as needed” engineering and inspection services for structure construction projects in Caltrans Districts 1, 2, and 3-North. “Parsons has worked with the Caltrans for decades to improve California’s transportation system and provide greater mobi ...

CHANTILLY, Va., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the Port Authority of New York and New Jersey (PANYNJ) has selected the Tutor/O&G joint venture (JV) team, with Parsons as the lead designer, for the Newark AirTrain Replacement Program – Guideway and Stations project. The $1.18 billion project is a critical component of the modernization of Newark Liberty International Airport (EWR) and will replace the existing, aging AirTrain system with a state-of-the- ...

CHANTILLY, Va., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) and Globalstar (NYSE American: GSAT) announce their exclusive partnership to support the public, government, and defense sectors. The partnership also includes the successful demonstration of Parsons’ software-defined satellite communications solution using Globalstar’s Low Earth Orbit (LEO) satellite constellation. As the demand for reliable global communication services continues to grow in complex and congested areas, the c ...

CHANTILLY, Va., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Carey Smith, chair, president, and chief executive officer, and Matt Ofilos, chief financial officer, will participate in fireside chat question and answer sessions at the following investor conferences: Goldman Sachs Industrials and Materials Conference on Wednesday, December 4, 2024, at approximately 1:20 p.m. Eastern TimeUBS Global Industrials and Transportation Conference on Thursday, December 5, 2024, ...

Investors interested in stocks from the Technology Services sector have probably already heard of Parsons (PSN) and Ibotta (IBTA) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks with strong ...

Parsons (PSN) has been on a downward spiral lately with significant selling pressure. After declining 9.8% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is ...