Spectra Energy (NYSE: SE) 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 Spectra Energy's revenues will grow 10.1% and EPS will drop 0.0%.

The average estimate for revenue is $1.22 billion. On the bottom line, the average EPS estimate is $0.33.

Revenue details
 Last quarter, Spectra Energy reported revenue of $1.59 billion. GAAP reported sales were 2.9% higher than the prior-year quarter's $1.54 billion.

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 $0.51. GAAP EPS of $0.51 were the same as the prior-year quarter.

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 49.8%, 140 basis points worse than the prior-year quarter. Operating margin was 31.8%, 180 basis points worse than the prior-year quarter. Net margin was 21.4%, 20 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $5.42 billion. The average EPS estimate is $1.53.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 822 members out of 852 rating the stock outperform, and 30 members rating it underperform. Among 229 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 222 give Spectra Energy a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spectra Energy is outperform, with an average price target of $29.75.

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