Macy's (NYSE: M) is expected to report Q2 earnings on Aug. 8. Here's what Wall Street wants to see.

The 10-second takeaway
Comparing the upcoming quarter with the prior-year quarter, average analyst estimates predict Macy's revenues will grow 2.7% and EPS will increase 16.4%.

The average estimate for revenue is $6.10 billion. On the bottom line, the average EPS estimate is $0.64.

Revenue details
Last quarter, Macy's recorded revenue of $6.14 billion. GAAP reported sales were 4.3% higher than the prior-year quarter's $5.89 billion.

My

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 $0.43. GAAP EPS of $0.43 for Q1 were 43% higher than the prior-year quarter's $0.30 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 38.8%, 30 basis points worse than the prior-year quarter. Operating margin was 6.4%, 80 basis points better than the prior-year quarter. Net margin was 2.9%, 70 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $27.69 billion. The average EPS estimate is $3.35.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 510 members out of 805 rating the stock outperform, and 295 members rating it underperform. Among 204 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 149 give Macy's a green thumbs-up, and 55 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Macy's is outperform, with an average price target of $44.17.

Can your retirement portfolio provide you with enough income to last? You'll need more than Macy's. Learn about crafting a smarter retirement plan in "The Shocking Can't-Miss Truth About Your Retirement." Get instant access to this free report.