Veeco Instruments (Nasdaq: VECO) is expected to report Q3 earnings on Oct. 22. 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 Veeco Instruments's revenues will decrease -51.3% and EPS will drop -77.4%.

The average estimate for revenue is $130.5 million. On the bottom line, the average EPS estimate is $0.30.

Revenue details
 Last quarter, Veeco Instruments tallied revenue of $136.5 million. GAAP reported sales were 48% lower than the prior-year quarter's $264.8 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 $0.37. GAAP EPS of $0.30 for Q2 were 33% lower than the prior-year quarter's $0.45 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 44.9%, 620 basis points worse than the prior-year quarter. Operating margin was 11.3%, 2,010 basis points worse than the prior-year quarter. Net margin was 8.7%, 140 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $540.0 million. The average EPS estimate is $1.48.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 399 members out of 430 rating the stock outperform, and 31 members rating it underperform. Among 76 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 68 give Veeco Instruments a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Veeco Instruments is hold, with an average price target of $35.90.

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