Reynolds American (NYSE: RAI) is expected to report Q1 earnings on April 23. 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 Reynolds American's revenues will compress -0.5% and EPS will expand 9.5%.

The average estimate for revenue is $1.92 billion. On the bottom line, the average EPS estimate is $0.69.

Revenue details
 Last quarter, Reynolds American chalked up revenue of $2.08 billion. GAAP reported sales were 0.2% lower than the prior-year quarter's $2.08 billion.

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 $0.76. GAAP EPS of $0.25 for Q4 were 52% lower than the prior-year quarter's $0.52 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 45.5%, 120 basis points worse than the prior-year quarter. Operating margin was 21.4%, 720 basis points worse than the prior-year quarter. Net margin was 6.7%, 790 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $8.30 billion. The average EPS estimate is $3.20.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 602 members out of 651 rating the stock outperform, and 49 members rating it underperform. Among 227 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 218 give Reynolds American a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Reynolds American is hold, with an average price target of $44.55.

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