NEW YORK (TheStreet) -- Shares of Swift Transportation (SWFT) are jumping 11.73% to $18.77 late Friday morning after the company reported better-than-expected earnings for the 2016 second quarter.

After yesterday's market close, the Phoenix-based transportation services company posted adjusted earnings of 34 cents per share, exceeding analysts' estimates of 30 cents per share.

Operating revenue came in at $1.01 billion, in line with analysts' projections.

The consolidated average operational truck count was lowered by 267 trucks from the first quarter and 244 trucks year-over-year. That was "to drive improvements in asset utilization, as the truckload market continued to be challenging throughout the second quarter," the company said in a statement.

For fiscal 2016, Swift now sees adjusted earnings per share between $1.30 and $1.40 compared to its previous view of $1.45 to $1.55, the Fly noted.

Analysts are expecting earnings of $1.38 per share for the full year.

TheStreet Recommends

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and notable return on equity.

But the team also finds weaknesses including unimpressive growth in net income, poor profit margins and a generally disappointing performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: SWFT

Image placeholder title