Noble (NYSE: NE) is expected to report Q2 earnings on July 17. 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 Noble's revenues will grow 13.1% and EPS will drop -5.1%.

The average estimate for revenue is $1.02 billion. On the bottom line, the average EPS estimate is $0.56.

Revenue details
 Last quarter, Noble recorded revenue of $971.0 million. GAAP reported sales were 25% higher than the prior-year quarter's $762.5 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, EPS came in at $0.59. GAAP EPS of $0.59 for Q1 were 26% higher than the prior-year quarter's $0.47 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 47.7%, 400 basis points better than the prior-year quarter. Operating margin was 24.0%, 520 basis points better than the prior-year quarter. Net margin was 15.8%, much about the same as the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $4.27 billion. The average EPS estimate is $2.80.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,184 members out of 2,215 rating the stock outperform, and 31 members rating it underperform. Among 445 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 440 give Noble a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Noble is outperform, with an average price target of $45.42.

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