NEW YORK (TheStreet) -- Shares of Delphi Automotive  (DLPH)  were gaining on heavy trading volume early-afternoon Wednesday as the automotive parts manufacturer reported stronger-than-expected results for the 2016 third quarter and raised its full-year forecast. 

Before today's market open, Delphi posted adjusted earnings of $1.50 per share, above Wall Street's estimated $1.42 per share. 

Revenue was $4.09 billion, higher than analysts' projected $3.98 billion. 

Sales for Delphi's electrical unit climbed 18% year-over-year to $2.29 billion vs. the $1.94 billion posted last year. Analysts surveyed by FactSet forecast sales of $2.22 billion for the segment.

For the year-ago period, the Gillingham, England-based company reported adjusted earnings of $1.28 per share on revenue of $3.63 billion.  

Delphi now sees adjusted earnings of $6.00 to $6.10 per share for 2016, up from its prior forecast of $5.95 to $6.05 per share. The FactSet consensus is for $5.97 per share. 

The company boosted its 2016 revenue outlook to between $16.40 billion and $16.50 billion, higher than its previous guidance of $16.25 billion to $16.45 billion. Analysts surveyed by FactSet are looking for revenue of $16.42 billion. 

More than 2.40 million Delphi shares have traded so far today vs. the 30-day average of 2.04 million.

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 Delphi Automotive as a Buy with a ratings score of B. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and notable return on equity. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.

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

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