Concho Resources (NYSE: CXO) is expected to report Q3 earnings on Nov. 7. 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 Concho Resources's revenues will grow 13.6% and EPS will wither -8.8%.

The average estimate for revenue is $516.1 million. On the bottom line, the average EPS estimate is $1.04.

Revenue details
 Last quarter, Concho Resources logged revenue of $432.8 million. GAAP reported sales were 3.0% lower than the prior-year quarter's $446.2 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 $0.78. GAAP EPS of $3.07 for Q2 were 37% higher than the prior-year quarter's $2.24 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 80.7%, 430 basis points worse than the prior-year quarter. Operating margin was 129.2%, 3,970 basis points better than the prior-year quarter. Net margin was 73.8%, 2,180 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.00 billion. The average EPS estimate is $4.01.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 238 members out of 255 rating the stock outperform, and 17 members rating it underperform. Among 50 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give Concho Resources a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Concho Resources is outperform, with an average price target of $124.56.

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