Triangle Petroleum (AMEX: TPLM) is expected to report Q1 earnings on June 10. 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 expand 509.0% and EPS will turn positive

The average estimate for revenue is $31.5 million. On the bottom line, the average EPS estimate is $0.05.

Revenue details
 Last quarter, Triangle Petroleum logged revenue of $24.0 million. GAAP reported sales were much higher than the prior-year quarter's $3.5 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, non-GAAP EPS came in at -$0.09. GAAP EPS were -$0.21 for Q4 versus -$0.35 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 60.4%, much worse than the prior-year quarter. Operating margin was -33.2%, much better than the prior-year quarter. Net margin was -38.4%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $181.1 million. The average EPS estimate is $0.50.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 92 members out of 96 rating the stock outperform, and four members rating it underperform. Among 14 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 13 give Triangle Petroleum a green thumbs-up, and one 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 $9.33.

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