Federal Signal (NYSE: FSS) is expected to report Q1 earnings around May 1. 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 Federal Signal's revenues will shrink -10.4% and EPS will grow 900.0%.

The average estimate for revenue is $201.4 million. On the bottom line, the average EPS estimate is $0.10.

Revenue details
 Last quarter, Federal Signal chalked up revenue of $217.7 million. GAAP reported sales were 12% higher than the prior-year quarter's $195.0 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 $0.08. GAAP EPS were $0.07 for Q4 versus -$0.25 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 22.8%, 60 basis points worse than the prior-year quarter. Operating margin was 6.2%, 30 basis points better than the prior-year quarter. Net margin was 2.2%, 1,000 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $824.2 million. The average EPS estimate is $0.54.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 68 members out of 82 rating the stock outperform, and 14 members rating it underperform. Among 20 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 19 give Federal Signal a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Federal Signal is outperform, with an average price target of $7.50.

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