TELUS TU announced that it plans to invest more than $24 billion in Ontario over the next five years to significantly enhance its network infrastructure and operations. The current investment is part of a broader $73 billion initiative across Canada by 2028, aimed at developing infrastructure, improving sustainability, and advancing network technology.
Since 2000, the company has invested more than $68 billion in Ontario to build network infrastructure and operations, establishing its 5G and PureFibre networks. The company is leveraging its networks to drive productivity and innovation in various sectors, such as health, education, agriculture, and social equity.
By 2028, the company aims to enhance its networks to be faster, smarter, and more sustainable by using ORAN technology, which improves connection reliability and efficiency while reducing energy use. Also, AI and advanced analytics will be utilized for new infrastructure planning, optimizing coverage and performance, including new cell towers in areas like Ottawa and Windsor in 2024.
TELUS Corporation Price and Consensus
TELUS Corporation price-consensus-chart | TELUS Corporation Quote
TELUS is a leading Canadian telecom service provider of wireless, wireline, and Internet communications services for voice and data to businesses and consumers. The company is focused on the execution of its strategies, along with amplifying efforts on cost efficiency for margin-accretive customer growth and investments to support its expansion strategy.
The company reported first-quarter 2024 adjusted earnings per share (EPS) of C$0.26 (19 cents per share), which decreased 3.7% year over year. The bottom line surpassed the Zacks Consensus Estimate of 18 cents.
Quarterly total operating revenues decreased 0.6% year over year to C$4,932 million ($3,658.5 million) owing to lower service revenues in TELUS technology solutions and TELUS International. The top line missed the consensus estimate of $3,726.2 million.
At present, TELUS carries a Zacks Rank #3 (Hold). The stock has lost 15.3% compared with the sub-industry’s decline of 7.2% in the past year.
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Stocks to Consider
Some better-ranked stocks from the broader technology space are Woodward WWD, Arista Networks ANET and Super Micro Computer SMCI. Each stock presently sports 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 Woodward’s fiscal 2024 EPS has moved up 11.1% in the past 60 days to $5.86. WWD’s long-term earnings growth rate is 16.3%.
Woodward’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 26.1%. WWD shares have risen 62% in the past year.
The Zacks Consensus Estimate for ANET’s 2024 EPS has increased 6.2% in the past 60 days to $7.92. ANET’s long-term earnings growth rate is 15.7%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average earnings surprise of 15.4%. Shares of ANET have gained 127.3% in the past year.
The Zacks Consensus Estimate for Super Micro Computer’s fiscal 2024 EPS has improved 8.3% in the past 60 days to $23.51. SMCI’s long-term earnings growth rate is 52.3%.
SMCI’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 6.9%. Shares of SMCI have risen 481% in the past year.
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TELUS Corporation (TU) : Free Stock Analysis Report
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