U.S. markets closed
  • S&P 500

    3,585.62
    -54.85 (-1.51%)
     
  • Dow 30

    28,725.51
    -500.10 (-1.71%)
     
  • Nasdaq

    10,575.62
    -161.89 (-1.51%)
     
  • Russell 2000

    1,664.72
    -10.21 (-0.61%)
     
  • Crude Oil

    79.74
    -1.49 (-1.83%)
     
  • Gold

    1,668.30
    -0.30 (-0.02%)
     
  • Silver

    19.01
    +0.30 (+1.62%)
     
  • EUR/USD

    0.9801
    -0.0018 (-0.19%)
     
  • 10-Yr Bond

    3.8040
    +0.0570 (+1.52%)
     
  • GBP/USD

    1.1166
    +0.0043 (+0.38%)
     
  • USD/JPY

    144.7200
    +0.2770 (+0.19%)
     
  • BTC-USD

    19,348.99
    -237.64 (-1.21%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • FTSE 100

    6,893.81
    +12.22 (+0.18%)
     
  • Nikkei 225

    25,937.21
    -484.84 (-1.83%)
     

TELUS (TU) Continues PureFibre Network Expansion in Canada

·4 min read

TELUS Corporation TU is making an investment of C$9 million in the Mékinac and Les Chenaux RCM region to upgrade its network infrastructure. The company will launch its PureFibre and 5G network in communities across Batiscan, Hérouxville, Saint-Adelphe and Sainte-Geneviève-de-Batiscan.

TELUS is also developing a wireless site in Saint-Adelphe to provide its PureFibre and 5G network.

TELUS Corporation Price and Consensus

TELUS Corporation Price and Consensus
TELUS Corporation Price and Consensus

TELUS Corporation price-consensus-chart | TELUS Corporation Quote

This initiative by TELUS aims to close the digital gap by promoting innovation in local businesses and tourism, attracting young employees and speeding up the development of virtual health and education services.

Broadband connectivity is required for jobs, entertainment, education and enhanced healthcare. Per TELUS, this allows countries to expand, accelerate their environmental change and advertise their attractions more dynamically.

Nearly 1,700 homes and businesses in Batiscan, Hérouxville, Saint-Adelphe and Sainte-Geneviève-de-Batiscan will have access to faster and more dependable Internet technology with equal upload and download speeds and nearly infinite bandwidth. This enables customers to work, stream and make video chats simultaneously.

Earlier, TELUS announced an investment of C$17.5 billion in British Columbia and C$11 billion in Quebec to boost network infrastructure, operations and spectrum and generate employment opportunities.

TELUS also made an investment of C$10 million in the Chaudière-Appalaches region and a private investment of C$14 million in the Estrie region of Canada. The company has committed to an overall investment of C$70 billion across Canada by 2026.

Expanding its high-speed PureFibre network will likely help TELUS boost its subscriber base and top-line performance. TU, a leading telecom service provider based in Vancouver, Canada, has launched 5G networks in several places in the country. It acquired a 100% stake in Mobile Klinik to grow its wireless business. It is well-positioned to benefit from the increasing penetration of smart devices, wireless data services and wireline fiber-optic networks.

TELUS recently reported healthy first-quarter 2022 results. It recorded adjusted earnings per share of C$0.30 (24 cents) in first-quarter 2022 compared with C$0.27 per share in the prior-year quarter. The bottom line beat the Zacks Consensus Estimate of 23 cents.

Subscriber growth and double-digit revenue growth across the TELUS International, TELUS Health and TELUS Agriculture segments boosted the company’s top-line performance. Quarterly total operating revenues increased 6.4% year over year to C$4,282 million ($3,381 million).

The stock has gained 0.6% compared with the industry’s rise of 2.7% in the past year.

Zacks Rank & Stocks to Consider

TU carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology space are InterDigital IDCC, Vishay Intertechnology VSH and Avnet AVT. InterDigital and Avnet currently sport a Zacks Ranks #1 (Strong Buy), whereas Vishay Intertechnology holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for InterDigital’s 2022 earnings is pegged at $3.28 per share, increasing 5.13% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.

InterDigital’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.13%. Shares of IDCC have declined 20.3% in the past year.

The Zacks Consensus Estimate for Vishay Intertechnology’s 2022 earnings is pegged at $2.68 per share, rising 10.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 22.7%.

Vishay Intertechnology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 4.96%. Shares of VSH have declined 18% in the past year.

The Zacks Consensus Estimate for Avnet’s fiscal 2022 earnings is pegged at $6.83 per share, rising 20.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 37.2%.

Avnet’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 21.22%. Shares of Avnet have grown 6.4% in the past year.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research