NEW YORK (TheStreet) -- Shares of Dr Pepper Snapple (DPS)  were advancing in pre-market trading on Thursday as the beverage company posted better-than-expected results for the 2016 third quarter and lifted its full-year earnings outlook. 

Before today's opening bell, Dr Pepper Snapple reported adjusted earnings of $1.17 per share, surpassing analysts' expected $1.11 per share.

Revenue rose 3% year-over-year to $1.68 billion, above Wall Street's projections of $1.65 billion.

For the year-ago period, the Plano, TX-based company earned $1.08 per diluted share on revenue of $1.63 billion. 

Dr Pepper Snapple now expects 2016 adjusted earnings to be in the range of $4.32 to $4.40 per share vs. its prior forecast of earnings between $4.20 to $4.30 per share. 

Analysts surveyed by FactSet are looking for adjusted earnings of $4.37 per share for the year.

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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 Dr Pepper Snapple as a Buy with a ratings score of A. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, notable return on equity and expanding profit margins. The team feels its strengths outweigh the fact that the company shows weak operating cash flow.

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

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