TELUS Corporation (TU - Free Report) has announced plans to speed up network services in Lower North Shore and promote development in certain regions of Quebec.
The Canadian telecommunications service provider is planning to build Internet Protocol transport infrastructure and add LTE cell towers in Lower North Shore with the help of the federal government’s Connect to Innovate program and the government of Quebec’s Société du Plan Nord.
TELUS is committed toward offering the best technology to its clients. The company intends to employ creativity and innovation to counter technical challenges in deploying the network along more than 400 kilometers of the Lower North Shore coastline. The primary hurdle is getting the region connected to the rest of the world through a wireless solution and establishing a land link between Baie-Comeau and Blanc-Sablon in the Quebec region.
Such innovative solutions are likely to give 4,700 residents, across 1,750 households and nearly 100 business houses, access to 25 to 75 Mbps of Internet speed as well as mobile services.
Furthermore, TELUS will use its technological expertise to connect rural communities across the region by developing a mixed network, combining optic fiber, microwave transmission and cell units. By 2020, the company expects to invest more than $300 million to provide ultra-high-speed Internet access to the entire eastern part of Quebec.
TELUS continues to benefit from increased penetration of smartphones, higher average revenue per unit, improved wireless data services and expanding wireline fiber optic networks.
The company expects to see balanced growth in its wireless and wireline businesses owing to substantial investments in high-speed broadband technology and services and its Customer First strategy.
Over the past three months, shares of TELUS have lost 3.9% outperforming the industry’s 10.9% decline.
TELUS has a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader industry are Ameren Corporation (AEE - Free Report) , CMS Energy Corporation (CMS - Free Report) and Alliant Energy Corporation (LNT - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ameren has an expected long-term earnings growth rate of 6.5%. It has beaten earnings estimates thrice in the trailing four quarters, the average being a positive 7.7%.
CMS Energy has an expected long-term earnings growth rate of 6.4%.
Alliant Energy expects to see long-term earnings growth of 5.6%.
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