Stock Alert: Parsons Shares On An Uptrend

(RTTNews) - Shares of Parsons Corporation (PSN), a technology provider for defense, intelligence, and other critical infrastructure markets, closed yesterday's trading at $40.99, up 2.04%, close to its 52-week high of $41.01.

The company was debuted on the NYSE on May 8, 2019, at an opening price of $30.65.

Two days back, Parsons won a prime position in a defense information technology contract worth $7.5 billion. The company said during the third quarter, it bagged six contracts for more than $100 million.

In the third quarter, earnings of $0.57 per share came as a big surprise, way higher than $0.21 as expected by analysts. This compares with earnings of $0.52 per share in the same quarter last year.

Revenue for the quarter rose to $1.023 billion, the highest in the company history, in line with expectations. Revenue for the corresponding last year's quarter was $976.16 million.

In September, the company had won the National Safety Council's prestigious Robert W. Campbell Award for achieving excellence through the integration of environment, health, and safety management.