Johnson & Johnson (NYSE: JNJ) is expected to report Q2 earnings around July 16. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Johnson & Johnson's revenues will grow 1.0% and EPS will increase 0.8%.

The average estimate for revenue is $16.76 billion. On the bottom line, the average EPS estimate is $1.29.

Revenue details
Last quarter, Johnson & Johnson booked revenue of $16.14 billion. GAAP reported sales were 0.2% lower than the prior-year quarter's $16.17 billion.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.37. GAAP EPS of $1.41 for Q1 were 13% higher than the prior-year quarter's $1.25 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 69.5%, 100 basis points worse than the prior-year quarter. Operating margin was 28.3%, 10 basis points worse than the prior-year quarter. Net margin was 24.2%, 270 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $67.48 billion. The average EPS estimate is $5.13.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 13,566 members out of 14,051 rating the stock outperform, and 485 members rating it underperform. Among 3,340 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 3,274 give Johnson & Johnson a green thumbs-up, and 66 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Johnson & Johnson is outperform, with an average price target of $71.32.

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