Western Digital (Nasdaq: WDC) is expected to report Q4 earnings on July 24. 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 Western Digital's revenues will shrink -23.7% and EPS will decrease -46.6%.

The average estimate for revenue is $3.63 billion. On the bottom line, the average EPS estimate is $1.79.

Revenue details
 Last quarter, Western Digital recorded revenue of $3.76 billion. GAAP reported sales were 24% higher than the prior-year quarter's $3.04 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, non-GAAP EPS came in at $2.10. GAAP EPS of $1.60 for Q3 were 18% lower than the prior-year quarter's $1.96 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 28.2%, 400 basis points worse than the prior-year quarter. Operating margin was 12.8%, 560 basis points worse than the prior-year quarter. Net margin was 10.4%, 550 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $15.25 billion. The average EPS estimate is $8.34.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,321 members out of 1,391 rating the stock outperform, and 70 members rating it underperform. Among 339 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 328 give Western Digital a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Western Digital is outperform, with an average price target of $49.92.

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