Herbalife (HLF) - Get Report shares have become a battleground between bulls and bears over the years, highlighted by Carl Icahn vs. Bill Ackman after the latter initiated a short position in the stock some time ago.

Since then, the stock has seen a lot of volatility, so it's got investors wondering if that will be the case when the company reports earnings on Tuesday after the close.

However, there's a chance the stock could have very little reaction following the results, according to TheStreet's Jim Cramer, the co-manager of the Action Alerts PLUS portfolio.

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Speaking from the floor of the New York Stock Exchange, Cramer said that until the company's debt covenants are sorted out, there won't be any "key quarters" for the stock.

That will likely come in 2017, he added.

Analysts expect the company to earn $1.09 per share on $1.14 billion revenues.

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.