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TELUS Augments Health Program for Communities Across Canada

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TELUS Corporation (TU - Free Report) plans to expand its Health for Good program with the Canadian Mental Health Association (CMHA) Peel Dufferin Branch. Powered by TELUS Health, the CMHA Peel Dufferin Mobile Health Clinic is a specially-equipped clinic on wheels that will provide primary medical care, mental health care and addiction supports directly to underserved citizens. TELUS’ share price declined 3% in yesterday’s trading session to close at $34.39.

The company has committed C$10 million to augment the program to communities across Canada over the next five years. The Mobile Health Clinics are equipped with TELUS Health’s electronic medical record technology and TELUS LTE Wi-Fi network technology. Already operational in Montreal, Vancouver, Victoria, Calgary, Edmonton, Ottawa, Waterloo Region, and Halifax, these clinics operate in communities where frontline care is urgently needed and act as a vital link between the community and local health authority.

The program funds TELUS Mobile Health Clinics that improve the way health practitioners deliver care for the most vulnerable. TELUS Mobile Health Clinics are working with healthcare providers like Thenu, Simon and Matty to reach people who need help. Staff members on the Mobile Health Clinic will include a registered nurse, an outreach worker, a worker specializing in substance use and will be supported by a nursing practitioner.

On Feb 4, TELUS and its global unit, TELUS International, announced the closing of the acquisition of Competence Call Center (CCC). TELUS International currently holds a 100% interest in CCC. The combined business has an expanded portfolio of customer experience, digital transformation, content moderation, IT lifecycle, advisory and digital consulting, risk management, and back-office support that will enable new go-to-market opportunities and drive growth.

In the last reported quarter, TELUS’ total operating revenues increased 2.5% year over year to C$3,858 million, led by growth in wireless network revenues and wireline data services revenues. Between 2013 and 2021, TELUS intends to invest more than C$300 million to expand its PureFibre network in the eastern part of Quebec, with C$72 million in support from the federal and provincial governments.

Within the next two years, it aims to offer direct fiber access to 93% of Greater Quebec City and Eastern Quebec residents. The company plans to generate subscriber growth in its key growth segments, including wireless, high-speed Internet and TELUS TV. Increasing demand for reliable access and fast-data services are expected to support customer additions.

TELUS’ financial targets for 2020 reflect growth in data services across wireless and wireline. The company intends to continue generating subscriber growth in its key segments, including wireless, Internet, TV, as well as home automation and security. Increasing demand for reliable access and fast data services is expected to support customer growth. TELUS Health and TELUS International are also likely to continue contributing to its growth profile.

Shares of TELUS have lost 5.6% compared with 15.6% decline recorded by the industry in the past six months.

TELUS currently has a Zacks Rank #3 (Hold).

A few better-ranked stocks in the broader sector are PCTEL, Inc. (PCTI - Free Report) , Motorola Solutions, Inc. (MSI - Free Report) and Qualcomm Incorporated (QCOM - 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.

PCTEL surpassed earnings estimates in the trailing four quarters, the beat being 108.9%, on average.

Motorola topped earnings estimates in the trailing four quarters, the surprise being 6.6%, on average.

Qualcomm surpassed earnings estimates in the trailing four quarters, the beat being 10%, on average.

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