ITT (NYSE: ITT) is expected to report Q3 earnings on Oct. 31. 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 ITT's revenues will decrease -81.9% and EPS will drop -83.3%.

The average estimate for revenue is $539.2 million. On the bottom line, the average EPS estimate is $0.39.

Revenue details
 Last quarter, ITT booked revenue of $567.5 million. GAAP reported sales were 2.7% higher than the prior-year quarter's $552.4 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 $0.50. GAAP EPS of $0.18 for Q2 were 90% lower than the prior-year quarter's $1.82 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 30.6%, 130 basis points worse than the prior-year quarter. Operating margin was 12.9%, 80 basis points better than the prior-year quarter. Net margin was 3.0%, 2,770 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.22 billion. The average EPS estimate is $1.67.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 343 members out of 367 rating the stock outperform, and 24 members rating it underperform. Among 89 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 83 give ITT a green thumbs-up, and six give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ITT is outperform, with an average price target of $24.21.