TELUS Corporation (TU - Free Report) recently announced that it is investing $110 million to connect more than 90% of homes and businesses in Richmond and Steveston, directly to its fibre optic network. The construction work is currently progressing well, with the company expecting to connect most of the homes and businesses throughout the region by spring of 2019.
The Canada-based telecommunications company offers a wide range of communications products and services including wireless, data, Internet protocol, voice, television, entertainment and video. The gigabit-enabled TELUS PureFibre network is among the most advanced communications infrastructure available in the world today.
While it enables residents to have Internet speeds of at least 150 megabits per second, businesses, schools, healthcare providers and other institutions can have access to faster speed and capacity. With a direct connection to the TELUS PureFibre network, customers henceforth will be able to enjoy the fastest symmetrical upload, download speeds and the most reliable network technology, making it the best network available in Richmond. Moreover, this new infrastructure is believed to be the backbone of TELUS’ wireless network as it allows more wireless capacity and faster speeds and lays the groundwork for 5G technologies.
Broadband Internet is imperative in the evolving digital economy. This advanced fibre optic network is likely to enhance the local economy by stimulating investment and helping local businesses prosper irrespective of their size of operations. For households, this new connectivity will smoothen the development of next-generation home entertainment and innovative smart-home technologies.
Further, TELUS is Canada's largest healthcare IT provider and TELUS International delivers business process solutions around the globe. The company believes in social and digital equality in the all connected world. In accordance with its philosophy “We Give Where We Live”, for every sign-up on the TELUS PureFibre network in Richmond this fall, the company will donate $25 to S.U.C.C.E.S.S. up to $20,000. Since 2000, the company, its team members and retirees have contributed more than $1.7 million. This investment is part of TELUS’ commitment to invest $4.7 billion throughout British Columbia between 2017 and 2020 at no cost to taxpayers.
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 investment in high-speed broadband technology and services.
In the past three months, the stock has gained 2.3% against the industry’s 9.8% decline.
TELUS currently 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 surpassed earnings estimates thrice in the trailing four quarters with an average positive surprise of 7.7%.
CMS has an expected long-term earnings growth rate of 6.4%.
Alliant has an expected long-term earnings growth rate of 5.6%.
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