Ultra Petroleum (NYSE: UPL) is expected to report Q4 earnings around Feb. 16. 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 Ultra Petroleum's revenues will contract -5.4% and EPS will wither -12.1%.

The average estimate for revenue is $256.1 million. On the bottom line, the average EPS estimate is $0.51.

Revenue details
Last quarter, Ultra Petroleum notched revenue of $196.4 million. GAAP reported sales were 33% lower than the prior-year quarter's $293.1 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 $0.64. GAAP EPS were -$3.94 for Q3 compared to $0.97 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 67.9%, 870 basis points worse than the prior-year quarter. Operating margin was 15.3%, 6,890 basis points worse than the prior-year quarter. Net margin was -306.6%, 35,750 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $999.6 million. The average EPS estimate is $1.81.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,514 members out of 1,569 rating the stock outperform, and 55 members rating it underperform. Among 329 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 318 give Ultra Petroleum a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ultra Petroleum is hold, with an average price target of $26.16.

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