Talisman Energy (TSX: TLM) is expected to report Q1 earnings on 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 Talisman Energy's revenues will decrease -32.3% and EPS will wither -93.8%.

The average estimate for revenue is $1.42 billion. On the bottom line, the average EPS estimate is $0.01.

Revenue details
 Last quarter, Talisman Energy reported revenue of $1.62 billion. GAAP reported sales were 23% 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 -$0.10. GAAP EPS were $0.31 for Q4 compared to -$0.11 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 57.9%, 860 basis points worse than the prior-year quarter. Operating margin was -48.5%, much worse than the prior-year quarter. Net margin was 23.5%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $6.10 billion. The average EPS estimate is $0.24.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 550 members out of 575 rating the stock outperform, and 25 members rating it underperform. Among 107 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 97 give Talisman Energy a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Talisman Energy is hold, with an average price target of $14.51.

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