TELUS (TU) to Benefit From 5G Expansion in British Columbia

·2 min read

TELUS Corp. TU has expanded its 5G network to Pemberton and Whistler as part of its C$13 billion investment in infrastructure and operations in British Columbia through 2024.

The communications technology company continues to support the citizens of the province with digital solutions as they navigate the pandemic.

Since 2000, TELUS has invested almost C$240 billion in network infrastructure, operations, and spectrum across Canada with more than C$47 billion in British Columbia.

With this service expansion, residents and businesses will have access to TELUS’ superfast 5G network, which will contribute to their social and economic prosperity.

Other locations in British Columbia where TELUS recently extended its 5G service are Grand Forks, Vernon, Campbell River, Comox, Courtenay and Cumberland, and Saanich.

TELUS’ shares have gained 23.4% in the past year compared with the industry’s growth of 15.7%.

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TELUS is expanding its 5G network to reach more than 615 communities across the country, including 187 new communities in British Columbia by the end of 2021.

5G offers much more capabilities than 4G networks, including increased capacity, ultra-low latency, and edge computing. It is estimated that 5G will create 250,000 jobs and contribute C$150 billion to Canada’s economy over the next 20 years.

TELUS continues to benefit from strong customer additions, thanks to the adoption of its superior connected experiences, innovative product set, and premium bundled offerings. The accelerated broadband expansion program is likely to further extend its PureFibre and 5G coverage.

The stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader sector are Clearfield, Inc. CLFD, Motorola Solutions, Inc. MSI, and Ubiquiti Inc. UI. While Clearfield sports a Zacks Rank #1 (Strong Buy), Motorola and Ubiquiti carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Clearfield delivered a trailing four-quarter earnings surprise of 49%, on average.

Motorola pulled off a trailing four-quarter earnings surprise of 9.6%, on average.

Ubiquiti delivered a trailing four-quarter earnings surprise of 20.5%, on average.

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