Abraxas Petroleum (Nasdaq: AXAS) 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 Abraxas Petroleum's revenues will increase 20.3% and EPS will drop -50.0%.

The average estimate for revenue is $19.7 million. On the bottom line, the average EPS estimate is $0.01.

Revenue details
 Last quarter, Abraxas Petroleum chalked up revenue of $19.1 million. GAAP reported sales were 16% higher than the prior-year quarter's $16.5 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 -$0.03. GAAP EPS were -$0.13 for Q4 compared to -$0.06 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 55.0%, 280 basis points better than the prior-year quarter. Operating margin was -16.9%, 750 basis points better than the prior-year quarter. Net margin was -62.2%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $92.9 million. The average EPS estimate is $0.07.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 723 members out of 756 rating the stock outperform, and 33 members rating it underperform. Among 95 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 88 give Abraxas Petroleum a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Abraxas Petroleum is outperform, with an average price target of $3.42.

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