Huron Consulting Group Inc.

Huron Consulting Group Inc. (HURN - Snapshot Report) is demonstrating excellent growth prospects in 2009 following a solid third-quarter earnings announcement.

Company Description

Huron Consulting Group Inc. is the parent company of Huron Consulting Services LLC, an independent provider of financial and operational consulting services. Huron's experienced and credentialed professionals employ their expertise in accounting, finance, economics and operations to a wide variety of both financially sound and distressed organizations.

The company serves Fortune 500 companies, medium-sized businesses, leading academic institutions, healthcare organizations and the law firms that represent these various organizations.

Revenues Surge

When Huron announced third-quarter results, they included a 26% increase in revenues. The company reported revenues of $169 million, up from $134 in the third quarter last year.

Earnings per share came in at 44 cents, which is significantly lower than the 58 cents last year. However, a significant charge for the acquisition of Stockamp and restructuring charges is responsible for the decline.

65% Growth in 2009?

After a modest forecast for 2008 is calling for a 7% decline in earnings, the consensus estimate is now calling for a 65% increase in 2009. Analyst predictions for earnings are now averaging $3.57 compared to the full-year estimate of $2.16 for 2008.

Long-term forecasts are showing growth rates of over 19% over the next 5 years. Applying this rate to a P/E of 24.6 times earnings yields a PEG ratio of 0.8, which is right in line with the industry.

The Chart

Shares of HURN have been on a decline, with the market, recently and will look to hold the support level near $47 per share. Take a look at the chart below.