Advertisement
Australia markets closed
  • ALL ORDS

    8,007.10
    +47.60 (+0.60%)
     
  • ASX 200

    7,745.60
    +46.90 (+0.61%)
     
  • AUD/USD

    0.6526
    +0.0025 (+0.39%)
     
  • OIL

    79.81
    +1.55 (+1.98%)
     
  • GOLD

    2,091.60
    +36.90 (+1.80%)
     
  • Bitcoin AUD

    95,150.38
    +1,065.39 (+1.13%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6017
    +0.0007 (+0.11%)
     
  • AUD/NZD

    1.0678
    +0.0002 (+0.01%)
     
  • NZX 50

    11,744.39
    +2.92 (+0.02%)
     
  • NASDAQ

    18,302.91
    +259.06 (+1.44%)
     
  • FTSE

    7,682.50
    +52.48 (+0.69%)
     
  • Dow Jones

    39,087.38
    +90.99 (+0.23%)
     
  • DAX

    17,735.07
    +56.88 (+0.32%)
     
  • Hang Seng

    16,589.44
    +78.00 (+0.47%)
     
  • NIKKEI 225

    39,910.82
    +744.63 (+1.90%)
     

TELUS (TU) Acquires 3800 MHz to Expand 5G Spectrum Portfolio

TELUS Corporation TU 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 and Consensus
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.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Stocks to Consider

Some better-ranked stocks in the broader technology space are Pegasystems PEGA, Flex FLEX and Watts Water Technologies WTS. 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

TELUS Corporation (TU) : Free Stock Analysis Report

Flex Ltd. (FLEX) : Free Stock Analysis Report

Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report

Pegasystems Inc. (PEGA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research