NEW YORK (TheStreet) -- Shares of Tiffany & Co. (TIF) are higher by 1.03% to $101.26 on heavy trading volume on Tuesday afternoon, ahead of the company's 2014 second quarter earnings report, which is scheduled to be released before the market opens on Wednesday.
So far, 1.11 million shares of Tiffany's have exchanged hands as compared to its average daily volume of 782,000 shares.
The FactSet consensus estimate has forecast for a profit of 85 cents per share, compared to Tiffany's 2013 second quarter profit of 83 cents per share.
Analysts expect Tiffany's sales to increase to $987.5 million, from $926 million for the same period last year.
Separately, TheStreet Ratings team rates TIFFANY & CO as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIFFANY & CO (TIF) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."