Forest Oil (NYSE: FST) is expected to report Q1 earnings on May 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 Forest Oil's revenues will wither -17.8% and EPS will wither -81.8%.

The average estimate for revenue is $130.6 million. On the bottom line, the average EPS estimate is $0.02.

Revenue details
Last quarter, Forest Oil reported revenue of $154.9 million. GAAP reported sales were 12% lower than the prior-year quarter's $176.6 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, non-GAAP EPS came in at $0.14. GAAP EPS were -$2.48 for Q4 compared to $0.17 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 76.3%, 80 basis points worse than the prior-year quarter. Operating margin was 39.0%, 40 basis points better than the prior-year quarter. Net margin was -185.0%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $519.1 million. The average EPS estimate is $0.22.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 323 members out of 341 rating the stock outperform, and 18 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 60 give Forest Oil a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Forest Oil is hold, with an average price target of $9.02.

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