Huron Consulting (HURN) Soars 4.0%: Is Further Upside Left in the Stock?

Huron Consulting (HURN) shares soared 4% in the last trading session to close at $172.15. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.7% loss over the past four weeks.

The stock is benefiting from the company’s capital returns through share buybacks and its expansion of service offerings, including acquisitions, which enhance long-term growth visibility and investor appeal.

This consulting company is expected to post quarterly earnings of $1.94 per share in its upcoming report, which represents a year-over-year change of +2.1%. Revenues are expected to be $432.95 million, up 11.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Huron Consulting, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HURN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Huron Consulting belongs to the Zacks Consulting Services industry. Another stock from the same industry, CBIZ (CBZ), closed the last trading session 1.9% higher at $38.21. Over the past month, CBZ has returned -29.3%.

For CBIZ, the consensus EPS estimate for the upcoming report has changed -3.9% over the past month to -$0.66. This represents a change of -230% from what the company reported a year ago. CBIZ currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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