Turkcell Iletisim Hizmetleri A.S. (TKC) Rating Increased to Buy at Zacks Investment Research

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Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $6.75 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 19.05% from the stock’s previous close.

According to Zacks, “Turkcell is the leading provider of mobile communications services in Turkey. “

Separately, JPMorgan Chase & Co. cut Turkcell Iletisim Hizmetleri A.S. from an “overweight” rating to a “neutral” rating in a research note on Monday, September 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Turkcell Iletisim Hizmetleri A.S. presently has a consensus rating of “Hold” and a consensus price target of $6.75.

NYSE:TKC opened at $5.67 on Thursday. Turkcell Iletisim Hizmetleri A.S. has a 1 year low of $3.93 and a 1 year high of $11.29. The company has a quick ratio of 1.55, a current ratio of 1.56 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 7.27 and a beta of 0.46.

Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) last posted its earnings results on Wednesday, October 24th. The Wireless communications provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.19. Turkcell Iletisim Hizmetleri A.S. had a return on equity of 12.65% and a net margin of 7.04%. The firm had revenue of $993.40 million during the quarter. As a group, equities research analysts anticipate that Turkcell Iletisim Hizmetleri A.S. will post 0.63 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of Turkcell Iletisim Hizmetleri A.S. in the second quarter valued at about $6,796,000. Bank of Montreal Can bought a new stake in shares of Turkcell Iletisim Hizmetleri A.S. in the second quarter valued at about $780,000. Capital Innovations LLC bought a new stake in shares of Turkcell Iletisim Hizmetleri A.S. in the third quarter valued at about $288,000. Sei Investments Co. lifted its holdings in shares of Turkcell Iletisim Hizmetleri A.S. by 256.2% in the second quarter. Sei Investments Co. now owns 143,518 shares of the Wireless communications provider’s stock valued at $939,000 after purchasing an additional 103,227 shares in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Turkcell Iletisim Hizmetleri A.S. by 28.7% in the third quarter. Alps Advisors Inc. now owns 149,963 shares of the Wireless communications provider’s stock valued at $723,000 after purchasing an additional 33,400 shares in the last quarter. Institutional investors own 3.60% of the company’s stock.

About Turkcell Iletisim Hizmetleri A.S.

Turkcell Iletisim Hizmetleri A.S. provides mobile telecommunication services for consumer, corporate, and wholesale customers. The company operates in two segments, Turkcell Turkey and Turkcell International. It offers mobile communication and fixed voice services; and broadband services that consist of mobile broadband, fiber to the home/building, and ADSL.

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