Lululemon Athletica (Nasdaq: LULU) is expected to report Q3 earnings on Dec. 6. 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 Lululemon Athletica's revenues will expand 32.5% and EPS will grow 37.0%.

The average estimate for revenue is $305.0 million. On the bottom line, the average EPS estimate is $0.37.

Revenue details
Last quarter, Lululemon Athletica booked revenue of $282.6 million. GAAP reported sales were 33% higher than the prior-year quarter's $212.3 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 $0.34. GAAP EPS of $0.39 for Q2 were 50% higher than the prior-year quarter's $0.26 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 55.1%, 240 basis points worse than the prior-year quarter. Operating margin was 24.8%, 320 basis points worse than the prior-year quarter. Net margin was 20.2%, 210 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.37 billion. The average EPS estimate is $1.83.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 1,006 members out of 1,348 rating the stock outperform, and 342 members rating it underperform. Among 372 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 267 give Lululemon Athletica a green thumbs-up, and 105 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lululemon Athletica is outperform, with an average price target of $74.80.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Lululemon Athletica. Motley Fool newsletter services recommend Lululemon Athletica. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.