Lululemon Athletica (Nasdaq: LULU) is expected to report Q2 earnings on Sep. 7. 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 Lululemon Athletica's revenues will grow 34.6% and EPS will expand 19.2%.

The average estimate for revenue is $285.9 million. On the bottom line, the average EPS estimate is $0.31.

Revenue details
 Last quarter, Lululemon Athletica chalked up revenue of $285.7 million. GAAP reported sales were 53% higher than the prior-year quarter's $186.8 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 $0.32. GAAP EPS of $0.32 for Q1 were 39% higher than the prior-year quarter's $0.23 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 55.0%, 370 basis points worse than the prior-year quarter. Operating margin was 25.6%, 210 basis points worse than the prior-year quarter. Net margin was 16.3%, 160 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.35 billion. The average EPS estimate is $1.62.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 995 members out of 1,325 rating the stock outperform, and 330 members rating it underperform. Among 353 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 253 give Lululemon Athletica a green thumbs-up, and 100 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lululemon Athletica is outperform, with an average price target of $78.56.

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