True Religion Apparel (Nasdaq: TRLG) is expected to report Q1 earnings on May 10. 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 True Religion Apparel's revenues will grow 6.0% and EPS will wane -17.1%.

The average estimate for revenue is $113.2 million. On the bottom line, the average EPS estimate is $0.34.

Revenue details
 Last quarter, True Religion Apparel reported revenue of $137.0 million. GAAP reported sales were 15% higher than the prior-year quarter's $119.4 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 $0.55. GAAP EPS of $0.53 for Q4 were 7.0% lower than the prior-year quarter's $0.57 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 64.3%, 20 basis points better than the prior-year quarter. Operating margin was 19.4%, 240 basis points worse than the prior-year quarter. Net margin was 9.8%, 230 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $509.7 million. The average EPS estimate is $1.91.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 489 members out of 557 rating the stock outperform, and 68 members rating it underperform. Among 148 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 127 give True Religion Apparel a green thumbs-up, and 21 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on True Religion Apparel is outperform, with an average price target of $30.60.

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