Career Education (Nasdaq: CECO) is expected to report Q3 earnings on Nov. 8. 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 Career Education's revenues will wane -24.8% and EPS will shrink to a loss.

The average estimate for revenue is $324.4 million. On the bottom line, the average EPS estimate is -$0.43.

Revenue details
Last quarter, Career Education logged revenue of $369.0 million. GAAP reported sales were 24% lower than the prior-year quarter's $484.9 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, non-GAAP EPS came in at -$0.18. GAAP EPS were -$1.52 for Q2 versus $0.74 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 60.5%, 690 basis points worse than the prior-year quarter. Operating margin was -6.1%, 2,300 basis points worse than the prior-year quarter. Net margin was -27.2%, 3,860 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.47 billion. The average EPS estimate is -$0.32.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 166 members out of 200 rating the stock outperform, and 34 members rating it underperform. Among 50 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 40 give Career Education a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Career Education is hold, with an average price target of $6.64.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.