On Yesterday, shares of Parsons Corp (NYSE: PSN) surged 1.1% in trading session and finally closed at $32.94. The company most recent volume stood at 160.57K shares as compared to average volume of 315.24K shares. Over the one year trading period, the stock has a high price of $38.82 and its low price is recorded at $29.03.
In the liquidity ratio analysis; Parsons Corporation’s (PSN) debt to equity ratio was 0.17 while current ratio was 1.40. The company has the institutional ownership of 20.90% while the Beta factor was # ref. The stock’s RSI amounts to 48.39.
Parsons Corp (NYSE: PSN) recently reported financial results for the second quarter ended June 30, 2019.
Total revenue for the second quarter of 2019 increased $89M, or 10%, from the previous year period driven by acquisitions and organic growth. Total revenue for the second quarter of 2018 included $55M of revenue as a result of a non-recurring legal matter decided in the Company’s favor. Operating income reduced to ($9)M in the second quarter of 2019 primarily Because of $43M in IPO-related long-term incentive compensation expenses, and $21M of acquisition-related intangible amortization expenses. Diluted earnings per share (EPS) attributable to Parsons reduced 76% to $0.44Because of the same factors as noted above, additional shares issued in the Company’s IPO, and $132M of income recorded in the second quarter of 2018 related to the resolution of the aforementioned non-recurring legal mater, offset by an income tax benefit associated with the establishment of a $56M deferred tax asset resulting from Parsons conversion from an S-Corporation to a C-Corporation in the second quarter of 2019.
Adjusted EBITDA for the second quarter of 2019 was $76M, a 45% increase over the previous year period and Adjusted EBITDA margin increased to 7.7%, a 190 basis point improvement from the second quarter of 2018. The Company’s Adjusted EBITDA and Adjusted EBITDA margin increased primarily as a result of revenue growth in its Federal Solutions section and higher margins in its Critical Infrastructure section, respectively.
Adjusted EBITDA attributable to Parsons for the second quarter of 2019 was $76M, a 50% increase over the previous year period. This increase was primarily driven by the same factor as described above. Adjusted EPS was $0.43, contrast to $0.40 in the second quarter of 2018.