True Religion Apparel (Nasdaq: TRLG) is expected to report Q2 earnings on July 31. 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 True Religion Apparel's revenues will increase 9.2% and EPS will contract -7.9%.

The average estimate for revenue is $107.3 million. On the bottom line, the average EPS estimate is $0.35.

Revenue details
Last quarter, True Religion Apparel logged revenue of $106.8 million. GAAP reported sales were 14% higher than the prior-year quarter's $93.8 million.

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, EPS came in at $0.41. GAAP EPS of $0.41 for Q1 were 14% higher than the prior-year quarter's $0.36 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 64.5%, 30 basis points worse than the prior-year quarter. Operating margin was 16.1%, 30 basis points better than the prior-year quarter. Net margin was 9.8%, 20 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $467.8 million. The average EPS estimate is $1.97.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 490 members out of 562 rating the stock outperform, and 72 members rating it underperform. Among 140 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 117 give True Religion Apparel a green thumbs-up, and 23 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on True Religion Apparel is outperform, with an average price target of $33.17.

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