It's Showtime for Kellogg

Kellogg (NYSE: K) is expected to report Q2 earnings on Aug. 2. Here's what Wall Street wants to see.

The 10-second takeaway
Comparing the upcoming quarter with the prior-year quarter, average analyst estimates predict Kellogg's revenues will wane -0.1% and EPS will contract -10.6%.

The average estimate for revenue is $3.38 billion. On the bottom line, the average EPS estimate is $0.84.

Revenue details
Last quarter, Kellogg reported revenue of $3.44 billion. GAAP reported sales were 1.3% lower than the prior-year quarter's $3.49 billion.

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 $0.95. GAAP EPS of $1.00 were the same as 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 39.9%, 90 basis points worse than the prior-year quarter. Operating margin was 15.6%, 80 basis points worse than the prior-year quarter. Net margin was 10.4%, 10 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $14.00 billion. The average EPS estimate is $3.35.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 879 members out of 962 rating the stock outperform, and 83 members rating it underperform. Among 280 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 263 give Kellogg a green thumbs-up, and 17 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Kellogg is hold, with an average price target of $55.37.

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