NEW YORK (TheStreet) -- Shares of Altria (MO) - Get Report  were increasing in mid-morning trading on Thursday as the company posted stronger-than-expected results for the 2016 third quarter. 

Before today's opening bell, Altria reported adjusted earnings of 82 cents per share, beating analysts' estimates by one cent. 

Revenue grew 4.3% year-over-year to $5.20 billion, which surpassed Wall Street's projected $5.11 billion. 

For the same period last year, the Richmond, VA-based tobacco company reported adjusted earnings of 75 cents per share on revenue of $4.98 billion. 

Net revenue for smokeable products rose 2.7% year-over-year in the 2016 second quarter. 

The company said net revenue for smokeless products increased 10% year-over-year for the period. 

Altria also backed its full-year adjusted earnings outlook of $2.98 to $3.04 per share. Analysts surveyed by FactSet are looking for adjusted earnings of $3.03 per share. 

Separately, 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. 

The team rates Altria Group as a Buy with a ratings score of B+. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and increase in stock price during the past year. The team feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that it evaluated.

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

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