Forest Oil (NYSE: FST) is expected to report Q2 earnings July 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 contract -23.2% and EPS will drop -63.9%.

The average estimate for revenue is $182.9 million. On the bottom line, the average EPS estimate is $0.13.

Revenue details
Last quarter, Forest Oil reported revenue of $158.9 million. GAAP reported sales were 4.5% lower than the prior-year quarter's $166.3 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, non-GAAP EPS came in at $0.11. GAAP EPS were -$0.29 for Q1 versus -$0.03 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 73.1%, 350 basis points worse than the prior-year quarter. Operating margin was 37.3%, 2,340 basis points better than the prior-year quarter. Net margin was -20.6%, 1,860 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $749.5 million. The average EPS estimate is $0.52.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 342 members out of 357 rating the stock outperform, and 15 members rating it underperform. Among 83 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 76 give Forest Oil a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Forest Oil is outperform, with an average price target of $17.71.

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