Blue Nile (Nasdaq: NILE) is expected to report Q1 earnings on May 2. 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 Blue Nile's revenues will grow 16.6% and EPS will grow 500.0%.

The average estimate for revenue is $96.9 million. On the bottom line, the average EPS estimate is $0.06.

Revenue details
 Last quarter, Blue Nile notched revenue of $136.1 million. GAAP reported sales were 21% higher than the prior-year quarter's $112.3 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 $0.39. GAAP EPS of $0.39 for Q4 were 30% 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 18.9%, 180 basis points worse than the prior-year quarter. Operating margin was 5.2%, 40 basis points worse than the prior-year quarter. Net margin was 3.6%, 20 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $455.3 million. The average EPS estimate is $0.80.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 635 members out of 833 rating the stock outperform, and 198 members rating it underperform. Among 264 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 207 give Blue Nile a green thumbs-up, and 57 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Blue Nile is hold, with an average price target of $41.44.

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