Forest Laboratories (NYSE: FRX) is expected to report Q3 earnings around Jan. 15. 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 Forest Laboratories's revenues will wane -36.8% and EPS will shrink to a loss.

The average estimate for revenue is $764.0 million. On the bottom line, the average EPS estimate is -$0.16.

Revenue details
 Last quarter, Forest Laboratories reported revenue of $760.6 million. GAAP reported sales were 36% lower than the prior-year quarter's $1.16 billion.

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 $0.08. GAAP EPS of $0.08 for Q2 were 91% lower than the prior-year quarter's $0.91 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 79.9%, 260 basis points better than the prior-year quarter. Operating margin was 2.5%, 2,450 basis points worse than the prior-year quarter. Net margin was 2.8%, 1,870 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $3.15 billion. The average EPS estimate is $0.25.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Forest Laboratories is hold, with an average price target of $36.71.