TELUS (TU) Expands 5G Network to Lloydminster in Alberta

Communications technology company TELUS Corp. TU has expanded its 5G network to Lloydminster as part of its C$14.5 billion investment in Alberta through 2024.

The Canada-based company supports residents and businesses with critical network connectivity in today’s digital world. Since 2000, TELUS has invested almost C$240 billion in network infrastructure, operations and spectrum across Canada, including more than C$51 billion in Alberta.

TELUS is on track to provide 70% of Canada’s population with access to its 5G network by the end of this year. The company seeks to expand its 5G network to more than 615 communities across the country. This includes 136 new communities in Alberta by the end of 2021.

Other locations where TELUS recently launched its 5G service include Salmo and Golden in British Columbia.

TELUS’ shares have gained 15.4% in the past year compared with the industry’s growth of 2.6%.

Image Source: Zacks Investment Research

In addition to superfast speed, 5G brings more capabilities over 4G networks like enhanced capacity, low latency and edge computing. 5G is expected to contribute C$150 billion to Canada’s economy over the next 20 years.

TELUS continues to benefit from solid customer additions, thanks to the adoption of its superior connected experiences, innovative product set and premium bundled offerings. The accelerated broadband expansion program is likely to extend its PureFibre and 5G coverage further.

The company is committed to building a better future for the next generation through investments in innovative technologies and sustainable business practices.

TU currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearfield, Inc. CLFD is a better-ranked stock in the telecom space, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised 8.8% upward over the past 60 days.

Clearfield delivered a trailing four-quarter earnings surprise of 50.8%, on average. The stock has rallied 173.2% in the past year.

Qualcomm, Inc. QCOM, carrying a Zacks Rank #2 (Buy), is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 0.5% over the past 30 days.

Qualcomm delivered a trailing four-quarter earnings surprise of 11.2%, on average. It has appreciated 20.8% in the past year.

Sierra Wireless, Inc. SWIR also carries a Zacks Rank #2. The consensus mark for current-year earnings has been revised 20.5% upward over the past 60 days.

Sierra Wireless pulled off a trailing four-quarter earnings surprise of 34.2%, on average. The stock has returned 12.3% in the past year.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.