TELUS Corporation TU has invested C$430 million and C$10 million across Calgary and Haida Gwaii, respectively.

The company has committed to an overall investment of C$70 billion across Canada by 2026. The current investment in Calgary is part of the company’s C$17 billion investment in Alberta to boost PureFibre and the 5G network and create 8,500 new jobs.

TELUS Corporation Price and Consensus

TELUS Corporation price-consensus-chart | TELUS Corporation Quote

Nearly 1 million homes and businesses in Alberta, Airdrie, Calgary, Edmonton, Leduc, Lloydminster, Spruce Grove and St. Albert will have faster network connectivity.

Recently, the company launched a 3500MHz spectrum on its 5G wireless network to provide faster Internet connectivity to customers in various parts of Canada.

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

TELUS plans to roll out the 5G standalone network this year, including multi-access edge computing to make further advancements in Internet of Things technology, health, agriculture, energy and transportation.

It also plans to upgrade cellular service and network infrastructure services in Haida Gwaii.

The company has launched an Indigenous Reconciliation Strategy under which it will make a series of investments that will allow local business owners to work from home but compete globally simultaneously.

TELUS has provided local business owners in Daajing Giids and Skidegate regions with Internet speed up to 120 Mbps to promote growth, per a company report.

Earlier, TU 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.

The company made an investment of C$10 million in the Chaudière-Appalaches region and private investment of C$14 million in the Estrie region of Canada.  It also invested C$9 million in the Mékinac and Les Chenaux RCM region.

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.

Expanding its high-speed PureFibre network will likely help TELUS boost its subscriber base and top-line performance. It is well-positioned to benefit from the increasing penetration of smart devices, wireless data services and wireline fiber-optic networks.

The stock has gained 1.2% compared with the industry’s rise of 3.7% in the past year.

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Zacks Rank & Stocks to Consider

TU carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology space are InterDigital Inc. IDCC, Synopsys SNPS and Broadcom AVGO. InterDigital, Synopsys and Broadcom currently sport a Zacks Rank #1 (Strong 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 $2.90 per share, increasing 27.2% 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 141.1%. Shares of IDCC have declined 16.2% in the past year.

The Zacks Consensus Estimate for Synopsys 2022 earnings is pegged at $8.47 per share, rising 7.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 19.6%.

Synopsys earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 2.7%. Shares of SNPS have increased 7.9% in the past year.

The Zacks Consensus Estimate for Broadcom’s fiscal 2022 earnings is pegged at $37.03 per share, up 3.8% in the past 60 days. AVGO’s long-term earnings growth rate is pegged at 14.5%.

Broadcom’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 2.2%. Shares of AVGO have increased 2% in the past year.

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