Vanguard Natural Resources (Nasdaq: VNR) is expected to report Q2 earnings on July 31. 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 Vanguard Natural Resources's revenues will contract -18.3% and EPS will expand 82.4%.

The average estimate for revenue is $124.1 million. On the bottom line, the average EPS estimate is $0.31.

Revenue details
 Last quarter, Vanguard Natural Resources recorded revenue of $96.7 million. GAAP reported sales were 17% higher than the prior-year quarter's $82.7 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 were -$0.42 for Q1 versus -$0.04 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 65.3%, 400 basis points worse than the prior-year quarter. Operating margin was -11.7%, much worse than the prior-year quarter. Net margin was -28.0%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $482.7 million. The average EPS estimate is $1.24.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 249 members out of 262 rating the stock outperform, and 13 members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 42 give Vanguard Natural Resources a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Vanguard Natural Resources is outperform, with an average price target of $31.93.

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