Smith & Nephew (NYSE: SNN) is expected to report Q1 earnings on May 2. 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 Smith & Nephew's revenues will wane -0.8% and EPS will grow 1.1%.

The average estimate for revenue is $1.07 billion. On the bottom line, the average EPS estimate is $0.95.

Revenue details
Last quarter, Smith & Nephew recorded revenue of $1.08 billion. GAAP reported sales were 2.6% lower than the prior-year quarter's $1.11 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 $1.08. GAAP EPS of $0.16 were the same as 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 73.4%, 50 basis points worse than the prior-year quarter. Operating margin was 26.6%, 220 basis points better than the prior-year quarter. Net margin was 13.2%, 50 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $4.38 billion. The average EPS estimate is $3.79.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 112 members out of 122 rating the stock outperform, and 10 members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 30 give Smith & Nephew a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Smith & Nephew is hold, with an average price target of $54.73.

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