NEW YORK (TheStreet) -- TheStreet's Jim Cramer is keeping an eye on Lululemon (LULU) as the athletic-gear maker gets set to post its first-quarter results before the opening bell on Tuesday.

Cramer said Lululemon is a crap shoot. He says it's either 5 up or 5 down. Cramer explains it would be 5 up because the fashion is still very strong. It would be 5 down because the stock has had a very major move and the company has a lot of exposure to the Canadian dollar which has been iweak.

Lululemon could be trapped in a range. Though the fashion looks good, the financials look only okay, Cramer said.

Analysts are looking for earnings per share of 33 cents for the quarter on revenue of $418 million. The company has topped Wall Street estimates for the past four quarters, and investors will be looking if it will be able to do that again. EPS came in at 34 cents for the same quarter a year ago.

With 30% of Lululemon's revenue coming from outside the U.S., investors will also want to know the impact of foreign exchange. Additionally, in the same quarter last year, the luxury yoga-wear brand announced a share buyback of $450 million, and so investors may be expecting another stock repurchase this quarter.

Lululemon currently has a consensus rating of hold with a price target of $59.42. The stock has a 52-week low of $36.26 and a 52-week high of $70.

Shares of Lululemon are up about 10% year-to-date. On Monday, the stock was trading at $60.79, down 4.7%.

Lululemon is a yoga-inspired athletic apparel designer and retailer. The company has been at the center of numerous controversies including product recalls. The retailer has also undergone several management changes with its founder Chip Wilson resigning as chairman in 2013 following controversial comments he made regarding women's bodies.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stock mentioned.

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