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TELUS (TU) Acquires 3800 MHz to Expand 5G Spectrum Portfolio
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TELUS Corporation (TU - Free Report) announced the acquisition of the latest 3800 MHz spectrum licenses across Canada through the ISED 3800 MHz auction for $620 million. This move adds an average of 72 MHz of 3800 MHz spectrum to the company’s portfolio.
The latest acquisition bodes well with the previous acquisition of the 3500 MHz spectrum in 2021. The company now possesses roughly 100 MHz of key 5G mid-band spectrum nationwide, with 96% coverage across the country's major markets, added TELUS.
The acquisition strengthens TELUS' capacity for 5G technology deployment, emphasizing the significance of the mid-band spectrum for optimal 5G innovation owing to features like speed, low latency, and coverage advantages.
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.
In September, the company announced the launch of PureFibre X 3.0 gigabit Internet, which will increase bandwidth and provide reliable connectivity to Canadians.
Prior to that, the company announced that it was investing C$11.5 billion over the next five years to provide high-speed Internet across Quebec. Telus 5G network will be available to Quebec residents, providing an ultrafast and dependable wireless connection. This investment is part of the company’s commitment to invest $81 billion across Canada by 2027.
At present, TELUS carries a Zacks Rank #3 (Hold). The stock has lost 15.6% compared with the sub-industry’s decline of 1.7% in the past year.
The Zacks Consensus Estimate for Pegasystems’ 2023 EPS has improved 21.2% in the past 60 days to $1.77. PEGA delivered an average earnings surprise of 1,250.2% in the trailing four quarters. Shares of PEGA have jumped 45% in the past year.
The Zacks Consensus Estimate for Flex’s fiscal 2024 EPS has increased 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%.
Flex’s earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11%. Shares of the company have risen 28.3% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 2.8% in the past 60 days to $8.00. Watts Water’s long-term earnings growth rate is 7.8%.
WTS’ earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11.8%. Shares of WTS have rallied 28.9% in the past year.
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TELUS (TU) Acquires 3800 MHz to Expand 5G Spectrum Portfolio
TELUS Corporation (TU - Free Report) announced the acquisition of the latest 3800 MHz spectrum licenses across Canada through the ISED 3800 MHz auction for $620 million. This move adds an average of 72 MHz of 3800 MHz spectrum to the company’s portfolio.
The latest acquisition bodes well with the previous acquisition of the 3500 MHz spectrum in 2021. The company now possesses roughly 100 MHz of key 5G mid-band spectrum nationwide, with 96% coverage across the country's major markets, added TELUS.
TELUS Corporation Price and Consensus
TELUS Corporation price-consensus-chart | TELUS Corporation Quote
The acquisition strengthens TELUS' capacity for 5G technology deployment, emphasizing the significance of the mid-band spectrum for optimal 5G innovation owing to features like speed, low latency, and coverage advantages.
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.
In September, the company announced the launch of PureFibre X 3.0 gigabit Internet, which will increase bandwidth and provide reliable connectivity to Canadians.
Prior to that, the company announced that it was investing C$11.5 billion over the next five years to provide high-speed Internet across Quebec. Telus 5G network will be available to Quebec residents, providing an ultrafast and dependable wireless connection. This investment is part of the company’s commitment to invest $81 billion across Canada by 2027.
At present, TELUS carries a Zacks Rank #3 (Hold). The stock has lost 15.6% compared with the sub-industry’s decline of 1.7% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the broader technology space are Pegasystems (PEGA - Free Report) , Flex (FLEX - Free Report) and Watts Water Technologies (WTS - Free Report) . Pegasystems and Flex presently sport a Zacks Rank #1 (Strong Buy), whereas Watts Water Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Pegasystems’ 2023 EPS has improved 21.2% in the past 60 days to $1.77. PEGA delivered an average earnings surprise of 1,250.2% in the trailing four quarters. Shares of PEGA have jumped 45% in the past year.
The Zacks Consensus Estimate for Flex’s fiscal 2024 EPS has increased 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%.
Flex’s earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11%. Shares of the company have risen 28.3% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 2.8% in the past 60 days to $8.00. Watts Water’s long-term earnings growth rate is 7.8%.
WTS’ earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11.8%. Shares of WTS have rallied 28.9% in the past year.