Triangle Petroleum (AMEX: TPLM) is expected to report Q2 earnings on Sep. 6. 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 Triangle Petroleum's revenues will grow 1187.9% and EPS will remain in the red.

The average estimate for revenue is $8.0 million. On the bottom line, the average EPS estimate is -$0.02.

Revenue details
 Last quarter, Triangle Petroleum reported revenue of $5.2 million. GAAP reported sales were much higher than the prior-year quarter's $.5 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 -$0.07. GAAP EPS were -$0.07 for Q1 compared to -$0.03 per share for the prior-year quarter.

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 83.7%, 290 basis points worse than the prior-year quarter. Operating margin was -63.3%, 12,680 basis points better than the prior-year quarter. Net margin was -56.4%, 11,340 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $63.8 million. The average EPS estimate is $0.04.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 82 members out of 86 rating the stock outperform, and four members rating it underperform. Among 14 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 11 give Triangle Petroleum a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Triangle Petroleum is outperform, with an average price target of $9.43.

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