Reynolds American (NYSE: RAI) 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 Reynolds American's revenues will increase 0.1% and EPS will grow 12.9%.

The average estimate for revenue is $2.20 billion. On the bottom line, the average EPS estimate is $0.79.

Revenue details
 Last quarter, Reynolds American recorded revenue of $2.18 billion. GAAP reported sales were 4.0% lower than the prior-year quarter's $2.27 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 $0.79. GAAP EPS of $0.78 for Q2 were 39% higher than the prior-year quarter's $0.56 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 48.9%, 150 basis points better than the prior-year quarter. Operating margin was 35.5%, 780 basis points better than the prior-year quarter. Net margin was 20.4%, 600 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $8.39 billion. The average EPS estimate is $2.96.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 596 members out of 646 rating the stock outperform, and 50 members rating it underperform. Among 205 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 193 give Reynolds American a green thumbs-up, and 12 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Reynolds American is hold, with an average price target of $42.27.

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