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Parsons Corporation (NYSE:PSN) stock has touched a 52-week low, dipping to $58.42, with InvestingPro data showing the stock’s RSI indicating oversold conditions. The company navigates through a challenging period marked by market volatility and industry pressures, with analyst targets ranging from $76 to $130 suggesting potential upside. This latest price level reflects a significant downturn from previous performance, with steep declines of -35% over the past six months. Despite the challenging market conditions, Parsons maintains a healthy balance sheet with moderate debt levels and remains profitable with a 20.8% gross margin. InvestingPro analysis indicates the stock is currently undervalued, with 11 additional ProTips available to subscribers providing deeper insights into PSN’s investment potential.
In other recent news, Parsons Corporation reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.78, which fell short of the anticipated $0.91. Revenue also missed expectations, coming in at $1.73 billion against a forecast of $1.76 billion. Despite these results, Parsons achieved record full-year revenue exceeding $6.7 billion, with significant growth in adjusted EBITDA and contract awards. Analysts at TD Cowen downgraded Parsons’ stock from Buy to Hold, reducing the price target to $56 due to concerns about anticipated growth slowdown and potential overestimations in financial guidance. Meanwhile, Jefferies and Truist Securities both lowered their price targets to $85 but maintained a Buy rating, expressing cautious optimism about Parsons’ growth prospects. KeyBanc Capital Markets also reduced its price target to $76 while maintaining an Overweight rating, citing lower than expected adjusted EBITDA and 2025 guidance. These developments reflect a mixed outlook for Parsons as it navigates financial challenges and strategic opportunities.
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