Rowan Companies (NYSE: RDC) is expected to report Q2 earnings on Aug. 6. 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 Rowan Companies's revenues will grow 14.0% and EPS will grow 7.8%.

The average estimate for revenue is $400.1 million. On the bottom line, the average EPS estimate is $0.55.

Revenue details
 Last quarter, Rowan Companies recorded revenue of $394.2 million. GAAP reported sales were 18% higher than the prior-year quarter's $333.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 Last quarter, EPS came in at $0.55. GAAP EPS of $0.55 for Q1 were 38% higher than the prior-year quarter's $0.40 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Recent performance
 For the preceding quarter, gross margin was 46.9%, 240 basis points better than the prior-year quarter. Operating margin was 23.0%, 310 basis points better than the prior-year quarter. Net margin was 17.3%, 250 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.57 billion. The average EPS estimate is $2.31.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 566 members out of 597 rating the stock outperform, and 31 members rating it underperform. Among 145 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 135 give Rowan Companies a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Rowan Companies is outperform, with an average price target of $38.92.

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