Two leaders for your new buying

Article Excerpt

Telus and Ovintiv are among the leaders in their respective markets. We still see both stocks as buys. TELUS, $22.80, is a buy. The stock (Toronto symbol T; Shares outstanding: 1.5 billion; Market cap: $33.8 billion; TSINetwork Rating: Above Average; Dividend yield: 6.6%; www.telus.com) is a Canadian wireless carrier with 13.06 million subscribers. It also sells landline phone, Internet and TV services in B.C., Alberta and eastern Quebec. In the quarter ended March 31, 2024, Telus added 45,000 new wireless phone subscribers as well as 101,000 users of other devices (net of cancellations). However, due to greater competition, the average monthly cellphone revenue per user declined 1.8% to $59.31. As a result, the company’s revenue in the quarter fell 0.6%, to $4.93 billion from $4.96 billion a year earlier. That also missed the consensus forecast of $5.01 billion. However, better productivity lifted earnings before unusual items by 1.0%, to $390 million from $386 million. Due to more shares outstanding, per-share earnings declined 3.7%, to $0.26 from $0.27. Even…