NEW YORK (TheStreet) -- Shares of Iconix Brand (ICON - Get Report) were jumping 9.42% to $7.20 in mid-afternoon trading on Friday after the company posted better-than-anticipated results for the 2016 second quarter.

After yesterday's market close, the New York-based brand management company reported adjusted earnings of 27 cents per share, exceeding analysts' forecasts of 23 cents per share.

Licensing revenue declined 2% to $95.7 million from last year. Analysts were expecting revenue of $95.2 million.

"I am pleased that for the second quarter, our company has delivered solid results. Our primary goal is to position ourselves to achieve growth while at the same time improving the balance sheet, and we are making progress on both of those fronts," CEO John Haugh said in a statement.

For 2016, Iconix sees earnings per share between $1.06 and $1.21 on revenue of $370 million to $390 million. Analysts are looking for earnings of $1.11 per share on revenue of $370.3 million.

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

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

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: ICON