Ascena Retail Group (Nasdaq: ASNA) is expected to report Q3 earnings on June 5. 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 Ascena Retail Group's revenues will increase 49.7% and EPS will drop -11.8%.

The average estimate for revenue is $1.17 billion. On the bottom line, the average EPS estimate is $0.30.

Revenue details
Last quarter, Ascena Retail Group reported revenue of $1.24 billion. GAAP reported sales were 44% higher than the prior-year quarter's $862.0 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 $0.26. GAAP EPS of $0.29 for Q2 were 28% lower than the prior-year quarter's $0.40 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 53.5%, 190 basis points worse than the prior-year quarter. Operating margin was 6.2%, 540 basis points worse than the prior-year quarter. Net margin was 3.8%, 360 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $4.74 billion. The average EPS estimate is $1.26.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 235 members out of 263 rating the stock outperform, and 28 members rating it underperform. Among 80 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 75 give Ascena Retail Group a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ascena Retail Group is outperform, with an average price target of $22.00.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends Ascena Retail Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.