Panera Bread (Nasdaq: PNRA) is expected to report Q3 earnings on Oct. 23. 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 Panera Bread's revenues will increase 15.4% and EPS will grow 22.7%.

The average estimate for revenue is $522.8 million. On the bottom line, the average EPS estimate is $1.19.

Revenue details
 Last quarter, Panera Bread reported revenue of $530.6 million. GAAP reported sales were 18% higher than the prior-year quarter's $451.1 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 $1.50. GAAP EPS of $1.50 for Q2 were 27% higher than the prior-year quarter's $1.18 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 36.2%, 110 basis points better than the prior-year quarter. Operating margin was 13.6%, 90 basis points better than the prior-year quarter. Net margin was 8.3%, 40 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.12 billion. The average EPS estimate is $5.79.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,352 members out of 1,505 rating the stock outperform, and 153 members rating it underperform. Among 426 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 398 give Panera Bread a green thumbs-up, and 28 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Panera Bread is outperform, with an average price target of $174.41.