Before the market opens Tuesday morning. United Parcel Service Inc. (NYSE: UPS) is scheduled to release second-quarter earnings. Consensus estimates call for earnings per share (EPS) of $1.27 on revenues of $14.51 billion. In the second quarter of 2014 the company reported EPS of $1.21 on revenues of $14.27 billion.

Although UPS has not issued formal guidance for the second quarter the company has said it expects EPS to increase by 6% to 12%, which implies a range of about $1.28 to $1.36 and full-year EPS in a range of $5.05 to $5.30.

UPS changed the way it charges for shipments at the beginning of this year and the change was a big help to both revenues and profits in the first quarter. Analysts are looking for a similar impact this quarter, at least in the year-over-year comparisons.

Analysts have been a bit reluctant to move ratings and price targets on the stock. With shares trading closer to annual lows rather than highs, the lack of movement is not terribly surprising. The most recent changes we could find include:

• Nomura reiterating its Neutral rating and $110 price target
• Goldman Sachs raising its rating from Neutral to Buy with a price target hike from $101 to $119
• Oppenheimer reiterating its Outperform rating and its $108 price target
• BofA raising its rating from Neutral to Buy and its price target from $103 to $115

UPS is reportedly in talks to acquire privately held Coyote Logistics for around $1.8 billion. UPS has also said it plans to grow organically in Europe to compete with the impending takeover of Netherlands-based TNT by U.S. competitor FedEx. There is likely to be little immediate news on what UPS is doing in Europe, but an announcement related to Coyote Logistics is not out of the questions.

UPS stock traded up about 0.3% in the noon hour on Monday at $95.06 in a 52-week range of $94.05 to $114.40.

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