H. J. Heinz (NYSE: HNZ) is expected to report Q1 earnings on Aug. 29. 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 H. J. Heinz's revenues will drop -0.2% and EPS will increase 2.6%.

The average estimate for revenue is $2.84 billion. On the bottom line, the average EPS estimate is $0.80.

Revenue details
 Last quarter, H. J. Heinz recorded revenue of $3.05 billion. GAAP reported sales were 5.6% higher than the prior-year quarter's $2.89 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 $0.81. GAAP EPS of $0.54 for Q4 were 22% lower than the prior-year quarter's $0.69 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 34.8%, 150 basis points worse than the prior-year quarter. Operating margin was 13.6%, 20 basis points worse than the prior-year quarter. Net margin was 5.7%, 200 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $11.81 billion. The average EPS estimate is $3.53.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 828 members out of 875 rating the stock outperform, and 47 members rating it underperform. Among 274 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 265 give H. J. Heinz a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on H. J. Heinz is outperform, with an average price target of $56.29.

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