Parsons Wins Major Saudi Sports Village Deal With Al Ittihad Club

Parsons Corporation (NYSE:PSN) shares rose on Wednesday after the company secured new project work in Saudi Arabia, reinforcing its focus on its international infrastructure pipeline. Project Scope and Development Al Ittihad Club Company selected Parsons as the project management consultant for the Al Ittihad Sports Village in Jeddah. Financial terms of the contract were not disclosed. The mandate covers the design phase of the integrated development, including the club’s headquarters, training facilities, performance centers, administrative buildings, and commercial assets. The project, located near King Abdullah Sports City, will align with FIFA standards. Parsons was selected for its experience in sports infrastructure and its ability to incorporate connectivity, security, and future growth into the development. Leadership Commentary “Parsons is proud to support Al Ittihad’s next chapter in line with Saudi Vision 2030’s Quality of Life Program which enables sports to flourish within the Kingdom,” said Mark Otter, Managing Director and Regional Headquarters Lead of Parsons’ operations in Saudi Arabia. “Parsons has delivered sports-related infrastructure ranging from the FIFA World Cup to the Olympics and will bring that same expertise and delivery excellence to the Al Ittihad Sports Village focusing on quality, safety and schedule certainty.” The company has operated in Saudi Arabia since 1958 and employs more than 3,000 people there. Technical Analysis Parsons is trading 1.6% below its 20-day SMA and 19.1% below its 100-day SMA, keeping the longer-term trend pointed lower even as it stabilizes. Shares are down 6.15% over the past 12 months and are positioned closer to their 52-week lows than highs. RSI is at 41.54, which sits in neutral territory but still reflects weaker demand than you typically see in sustained uptrends. The MACD is at -3.1634, while the signal line is at -3.4834, a bullish configuration that suggests downside pressure is easing, even though the indicator remains below zero. RSI in the 30–50 range with bullish MACD indicates momentum leaning bullish. Key Resistance: $65.00 Key Support: $49.50 Earnings & Analyst Outlook Looking further out, the next major catalyst for the stock arrives with the April 29, 2026 (estimated) earnings report. EPS Estimate: 66 cents (Down from 78 cents YoY) Revenue Estimate: $1.51 Billion (Down from $1.55 Billion YoY) Valuation: P/E of 24.6x (Suggests fair valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $81.94. Recent analyst moves include: Barclays: Overweight (Lowers Target to $70.00) (Mar. 31) UBS: Buy (Lowers Target to $95.00) (Feb. 12) Keybanc: Overweight (Lowers Target to $73.00) (Feb. 12) Top ETF Exposure SPDR S&P Kensho New Economies Composite ETF (NYSE:KOMP): 0.97% Weight State Street SPDR S&P Kensho New Economies Composite ETF (NYSE:KOMP): 1.02% Weight SPDR S&P Kensho Future Security ETF (NYSE:FITE): 1.91% Weight Significance: Because PSN carries meaningful weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. PSN Stock Price Activity: Parsons shares were up 2.66% at $55.62 at the time of publication on Wednesday, according to Benzinga Pro data. Photo by JHVEPhoto via Shutterstock