DSW (DSW) - Get Report is scheduled to release its 2016 third quarter results before Tuesday's market open. Wall Street is forecasting that earnings and revenue will increase year-over-year.

Analysts surveyed by FactSet are projecting adjusted earnings of 49 cents per share on revenue of $712.1 million. During the same quarter last year, the Columbus, OH-based footwear retailer earned 44 cents per diluted share on revenue of $665.5 million.

Comparable-store sales are expected to fall 0.6% during the most recent quarter, according to FactSet, compared to a 3.9% drop last year.

Canaccord Genuity remains cautious on DSW heading into the quarterly report. Management's decision to refrain from repeating last year's "deep" promotions has resulted in steep traffic declines and weak comparable-store sales growth, according to the firm.

"We do not want to get in front of a stock that is attempting to re-train its consumer to shop at full price, and thus remain cautious on the shares, particularly given the recent post-election bounce," the firm, which has a "hold" rating on the stock, wrote in a note today.

Canaccord believes DSW will maintain its full-year earnings per share guidance of $1.32 to $1.42 given the uncertainty about consumers' response to reduced promotions in what is anticipated to be another promotionally-driven holiday season.

MKM Partners maintained a "neutral" rating on DSW ahead of the results and said it expects sequential improvement from the 2016 second quarter.

"There may be some risk to the company's fall boot business from the unseasonably warm weather, but this may have been at least partially offset by an extended sandals season. Overall, we believe business remains generally difficult and view the stock as being close to its fair value here," the firm wrote in a note this morning.

Deutsche Bank upped its price target to $25 from $22 and maintained its "hold" rating on shares today as it sees upside to third-quarter consensus estimates.

The upside is driven by: easy comparisons over last year, strength in the footwear category, a successful launch of kids' footwear, which aided traffic, continued digital momentum and increasing private label penetration boosting margins, the firm said.

Shares of DSW were up 2.23% to $23.41 at the start of trading on Monday. The stock is down about 4% year-to-date.

DSW operates 481 stores in 42 states, the District of Columbia and Puerto Rico.