Halcón Resources (NYSE: HK) is expected to report Q2 earnings on Aug. 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 Halcón Resources's revenues will expand 802.4% and EPS will grow 200.0%.

The average estimate for revenue is $209.8 million. On the bottom line, the average EPS estimate is $0.06.

Revenue details
 Last quarter, Halcón Resources reported revenue of $190.7 million. GAAP reported sales were much higher than the prior-year quarter's $26.9 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 $0.05. GAAP EPS were $0.01 for Q1 compared to -$0.50 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 85.8%, much better than the prior-year quarter. Operating margin was 7.5%, much better than the prior-year quarter. Net margin was 2.9%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $991.5 million. The average EPS estimate is $0.29.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 317 members out of 332 rating the stock outperform, and 15 members rating it underperform. Among 56 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Halcón Resources a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Halcón Resources is outperform, with an average price target of $10.63.

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