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TELUS (TU) Invests to Upgrade Network Infrastructure in Montreal
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TELUS Corporation (TU - Free Report) has invested approximately $30 million in Montreal to enhance its 5G networks and expand its optic fiber infrastructure. The aim is to connect local businesses and provide the necessary network capacity to accommodate visitors to the city this year.
TELUS is also fostering partnerships with Zú and the École de Technologie Supérieure to establish urban and 5G labs, promoting innovation and connecting Montreal's businesses, universities and researchers with cutting-edge 5G technology.
The investments made by TELUS will also contribute to a greener, more dynamic, and secure city by redefining the entertainment, construction, and smart city industries through technological innovation, added the company.
TELUS has identified several projects that will be supported throughout the year. Firstly, it will provide free public Wi-Fi and upgrade the 5G network at the Grand Quay of the Port of Montreal. Secondly, TELUS is working diligently to equip Parc Jean Drapeau with the necessary network capacity to accommodate the influx of visitors expected during summer events such as the Formula 1 Canadian Grand Prix and music festivals. Additional wireless sites are being deployed to meet the increased bandwidth demands.
TELUS is one of the largest telecom carriers in Canada, covering 95% of the country’s population. TELUS provides wireless, wireline, and Internet communications services for voice and data to businesses and consumers. The investment in Montreal is part of the company’s commitment to invest $81 billion across Canada by 2027.
In May 2023, TELUS announced an investment of C$18.5 billion in British Columbia and C$11.5 billion in Quebec to boost network infrastructure, operations and spectrum and generate employment opportunities. Also, the company announced that it will invest C$19 billion over the next five years to provide high-speed Internet across Alberta. TELUS will invest in network infrastructure, operations and spectrum in Alberta.
TELUS presently carries a Zacks Rank #3 (Hold). The stock has lost 12.5% compared with the sub-industry’s decline of 7.6% in the past year.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have gained 16% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have surged 102.9% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 9.3% in the past 60 days to $3.75 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of the company have jumped 31.1% in the past year.
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TELUS (TU) Invests to Upgrade Network Infrastructure in Montreal
TELUS Corporation (TU - Free Report) has invested approximately $30 million in Montreal to enhance its 5G networks and expand its optic fiber infrastructure. The aim is to connect local businesses and provide the necessary network capacity to accommodate visitors to the city this year.
TELUS is also fostering partnerships with Zú and the École de Technologie Supérieure to establish urban and 5G labs, promoting innovation and connecting Montreal's businesses, universities and researchers with cutting-edge 5G technology.
The investments made by TELUS will also contribute to a greener, more dynamic, and secure city by redefining the entertainment, construction, and smart city industries through technological innovation, added the company.
TELUS Corporation Price and Consensus
TELUS Corporation price-consensus-chart | TELUS Corporation Quote
TELUS has identified several projects that will be supported throughout the year. Firstly, it will provide free public Wi-Fi and upgrade the 5G network at the Grand Quay of the Port of Montreal. Secondly, TELUS is working diligently to equip Parc Jean Drapeau with the necessary network capacity to accommodate the influx of visitors expected during summer events such as the Formula 1 Canadian Grand Prix and music festivals. Additional wireless sites are being deployed to meet the increased bandwidth demands.
TELUS is one of the largest telecom carriers in Canada, covering 95% of the country’s population. TELUS provides wireless, wireline, and Internet communications services for voice and data to businesses and consumers. The investment in Montreal is part of the company’s commitment to invest $81 billion across Canada by 2027.
In May 2023, TELUS announced an investment of C$18.5 billion in British Columbia and C$11.5 billion in Quebec to boost network infrastructure, operations and spectrum and generate employment opportunities. Also, the company announced that it will invest C$19 billion over the next five years to provide high-speed Internet across Alberta. TELUS will invest in network infrastructure, operations and spectrum in Alberta.
TELUS presently carries a Zacks Rank #3 (Hold). The stock has lost 12.5% compared with the sub-industry’s decline of 7.6% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the broader technology space are Dropbox (DBX - Free Report) , Badger Meter (BMI - Free Report) and Blackbaud (BLKB - Free Report) . Dropbox presently sports a Zacks Rank #1 (Strong Buy), whereas Badger Meter and Blackbaud hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have gained 16% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have surged 102.9% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 9.3% in the past 60 days to $3.75 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of the company have jumped 31.1% in the past year.