Cabot Oil & Gas (NYSE: COG) is expected to report Q2 earnings on July 24. 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 Cabot Oil & Gas's revenues will expand 62.9% and EPS will increase 660.0%.

The average estimate for revenue is $432.7 million. On the bottom line, the average EPS estimate is $0.38.

Revenue details
 Last quarter, Cabot Oil & Gas reported revenue of $373.3 million. GAAP reported sales were 37% higher than the prior-year quarter's $272.1 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 $0.20 for Q1 were 122% higher than the prior-year quarter's $0.09 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 76.9%, 240 basis points better than the prior-year quarter. Operating margin was 23.3%, 600 basis points better than the prior-year quarter. Net margin was 11.5%, 480 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.79 billion. The average EPS estimate is $1.52.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cabot Oil & Gas is outperform, with an average price target of $65.43.

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