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Highlights
- Stock markets have been taking wild swings in 2022 amid inflationary pressure, rake hike fears and the Ukraine-Russia conflict, leaving investors to seek out stocks that could help them.
- With the buzz around 5G connectivity and other faster technologies and advanced devices emerging in the industry, telecommunication stocks could protect investor interest to a certain extent in such uncertain times.
- TELUS saw its fourth-quarter net income soar by 144.6 per cent year-over-year (YoY) to C$ 663 million in 2021.
Stock markets have been taking wild swings in 2022 amid inflationary pressure, rake hike fears and the Ukraine-Russia conflict, leaving investors to seek out stocks that could help them.
With the buzz around 5G connectivity and other faster technologies and advanced devices emerging in the industry, telecommunication stocks could protect investor interest to a certain extent in such uncertain times.
On that note, here are two TSX telecom stocks that should be on your radar.
TELUS Corporation (TSX: T)
TELUS saw its fourth-quarter net income soar by 144.6 per cent year-over-year (YoY) to C$ 663 million in 2021.
The C$ 43-billion market cap firm said that it added 272,000 new customers in the latest quarter, notably up from 19,000 added in Q4 2020. The telecom operator also saw its total subscriber connections reach 16.88 million in Q4 FY2021.
Also read: Is Canadian Tire (TSX:CTC) a retail stock to buy after Q4 sales growth?
TELUS has announced a quarterly dividend of C$ 0.327 per share, up 5.2 per cent YoY, payable on April 1.
Stocks of TELUS Corporation closed at C$ 31.92 apiece on Thursday, February 17, after noting a daily trade volume of 3 million.
BCE Inc (TSX: BCE)
BCE recorded a surge of 1.8 per cent YoY in its operating revenues of C$ 6.2 billion in Q4 FY2021, up from C$ 6.10 billion a year ago.
The telecom giant generated C$ 1.74 billion as cash flow from operating activities in the latest quarter, which was 6.9 per cent up from Q4 2020. However, its Q4 net profit declined by 29.4 per cent YoY to C$ 658 million in the fourth quarter of fiscal 2021.
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BCE’s quarterly dividend of C$ 0.92 apiece is set to be paid on April 15.
The C$ 60-billion market cap company’s stock galloped by over 19 per cent in the past 12 months to close at C$ 66.77 apiece on Thursday.
Bottomline
Some Canadian telecom stocks, like BCE and TELUS, are known to run robust businesses and offer steady dividend payments to their shareholders. However, investors interested in such companies should generally track the rapidly changing communication technologies to ensure best possible profitability.
Also read: Cenovus (CVE) & Tourmaline (TOU): 2 top TSX oil stocks under $50
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
