In a bid to expand advanced wireless solutions, TELUS Corporation (TU - Free Report) has launched LTE-powered network solutions in Quebec’s Lower North Shore region. The wireless solutions, based on LTE Advanced technology, will significantly benefit the families residing between Blanc-Sablon and Pakua Shipu. It will also enable seamless accessibility of wireless phone services and Internet, thereby ensuring high-quality digital infrastructure in the region.
The step aims at strengthening the economy of the northern communities and improving the standard of living, reinforcing growth of local businesses by leveraging enhanced digital opportunities. The $23-million joint venture between the provincial and federal governments and the Canadian telecommunications company will leverage the high-speed connectivity services to establish one of the biggest digital infrastructure projects north of the 49th parallel.
The trailblazing technology, supported by a strong Internet Protocol backed network, is expected to modernize public institutions by enhancing the network coverage in the outskirts of Quebec and Canada. The wireless network solutions have also been deployed to more than 5,000 residents and local businesses in Lower North Shore to foster education, health care facilities, local business development, entertainment, thereby reducing depopulation and isolation.
TELUS further intends to establish a store in one of Canada’s most remote regions, Blanc-Sablon, whereby its advanced network coverage is anticipated to reach 1,750 families and almost 100 businesses in Lower North Shore communities by 2021. Markedly, 16 public institutions are estimated to be directly connected to fiber optics, which is considered to be the fastest technology in the world.
The company has invested more than $175 billion in its network and operations since 2000, and plans to add about $40 billion in the next three years across the country. Moreover, TELUS serves 178 of British Columbia’s First Nations with wireless and broadband wireline technologies. The company is poised to benefit from the increased penetration of smart devices, wireless data services and wireline fiber optic networks. It expects balanced growth in both the business segments driven by investments in high-speed broadband technology, and aims for greater subscriber base in key growth segments, including wireless, high-speed Internet and TELUS TV.
In addition, it has secured 600 MHz spectrum licenses in British Columbia, Alberta, Saskatchewan, Ontario and Quebec for $931 million. Equating to a national average of 11.3 MHz, these licenses will allow it to provide better mobile broadband connectivity at a time when the industry is moving from 4G LTE to 5G. The rollout of this spectrum is important to TELUS’ 5G growth strategy, and will offer improved network quality, speed and coverage.
TELUS has long-term earnings growth expectation of 6.4%. Driven by strong execution of operational strategies, the stock has added 15.2% against the industry’s decline of 24.7% in the year-to-date period.
TELUS currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader industry are NRG Energy, Inc. (NRG - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Alliant Energy Corporation (LNT - Free Report) and Black Hills Corporation (BKH - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NRG Energy has long-term earnings growth expectation of 39.4%.
Alliant Energy has long-term earnings growth expectation of 5.5%.
Black Hills has long-term earnings growth expectation of 4.3%.
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