Penn National Gaming (Nasdaq: PENN) is expected to report Q3 earnings on Oct. 18. 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 Penn National Gaming's revenues will grow 0.4% and EPS will wane -27.3%.

The average estimate for revenue is $713.5 million. On the bottom line, the average EPS estimate is $0.56.

Revenue details
 Last quarter, Penn National Gaming notched revenue of $712.6 million. GAAP reported sales were 3.6% higher than the prior-year quarter's $687.9 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 $0.63. GAAP EPS of $0.63 for Q2 were 11% lower than the prior-year quarter's $0.71 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 41.6%, 10 basis points better than the prior-year quarter. Operating margin was 17.5%, 130 basis points worse than the prior-year quarter. Net margin was 9.4%, 160 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.91 billion. The average EPS estimate is $2.49.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 341 members out of 372 rating the stock outperform, and 31 members rating it underperform. Among 97 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 92 give Penn National Gaming 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 Penn National Gaming is outperform, with an average price target of $49.13.