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

    19,303.44
    -237.86 (-1.22%)
     
  • 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) Unveils 3500MHz 5G Spectrum to Boost 5G Network

·3 min read

TELUS Corporation TU has launched a 3500MHz spectrum on its 5G wireless network to provide faster Internet connectivity to customers in various parts of Canada. The company has invested C$220 billion toward network infrastructure and operations in Canada since 2000.

The areas covered under this new spectrum are Toronto, Montreal, Ottawa, Edmonton and Victoria. Customers under the 3500MHz spectrum with 5G compatible devices can leverage the unlimited 5G+ plan to boost their network connectivity for speedy upload/download.

TELUS Corporation Price and Consensus

TELUS Corporation Price and Consensus
TELUS Corporation Price and Consensus

TELUS Corporation price-consensus-chart | TELUS Corporation Quote

TELUS plans to tap the growing demand for 5G and wireless networks as more people work from home. The new spectrum will provide its customers with ultra-fast speed and low -latency connectivity so they can do their job easily.

The 3500MHz spectrum will assist in the further development of 5G capabilities, including multi-access edge computing and Internet of Things technology, and major advancements in health, agriculture, energy, transportation and industry.

Customers living in rural regions will have Internet speed up to 100 Mbps through TELUS’ 5G wireless network, per company estimates.

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, private investment of C$14 million in the Estrie region of Canada and an investment of C$9 million in the Mékinac and Les Chenaux RCM region. The company has committed to an overall investment of C$70 billion across Canada by 2026.

TELUS is a leading telecom service provider based in Vancouver, Canada. It provides wireless, wireline and Internet communications services for voice and data to businesses and consumers.

TU 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 prioryear,

The stock has declined 1.9% compared with the industry’s decrease of 2.9% 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 Rank #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 20.2% 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 17.1% 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 6.1% 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