Quidel (Nasdaq: QDEL) is expected to report Q3 earnings on Oct. 23. 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 Quidel's revenues will grow 8.2% and EPS will contract -266.7%.

The average estimate for revenue is $35.8 million. On the bottom line, the average EPS estimate is $0.05.

Revenue details
 Last quarter, Quidel reported revenue of $30.9 million. GAAP reported sales were 12% higher than the prior-year quarter's $27.5 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 $0.01. GAAP EPS were -$0.09 for Q2 compared to -$0.11 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 54.6%, 20 basis points better than the prior-year quarter. Operating margin was -14.6%, 400 basis points better than the prior-year quarter. Net margin was -10.1%, 320 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $149.1 million. The average EPS estimate is $0.33.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 170 members out of 178 rating the stock outperform, and eight members rating it underperform. Among 35 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 34 give Quidel a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Quidel is outperform, with an average price target of $18.57.