Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) Sees Strong Trading Volume

Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) shares saw an uptick in trading volume on Friday . 949,493 shares were traded during mid-day trading, an increase of 161% from the previous session’s volume of 364,293 shares.The stock last traded at $8.19 and had previously closed at $8.20.

Analyst Ratings Changes

Separately, StockNews.com downgraded Turkcell Iletisim Hizmetleri A.S. from a “buy” rating to a “hold” rating in a research note on Wednesday.

Turkcell Iletisim Hizmetleri A.S. Stock Performance

The stock’s 50 day moving average is $7.24 and its two-hundred day moving average is $6.00. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 8.78 and a beta of 0.85. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.45.

Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) last released its earnings results on Monday, May 27th. The Wireless communications provider reported $0.10 EPS for the quarter. The firm had revenue of $996.26 million for the quarter. Turkcell Iletisim Hizmetleri A.S. had a return on equity of 11.51% and a net margin of 10.07%. Analysts expect that Turkcell Iletisim Hizmetleri A.S. will post 0.52 earnings per share for the current fiscal year.

Turkcell Iletisim Hizmetleri A.S. Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be given a dividend of $0.169 per share. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from Turkcell Iletisim Hizmetleri A.S.’s previous annual dividend of $0.10. This represents a yield of 2.38%.

Institutional Trading of Turkcell Iletisim Hizmetleri A.S.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TKC. BNP Paribas Financial Markets lifted its position in shares of Turkcell Iletisim Hizmetleri A.S. by 41.4% in the first quarter. BNP Paribas Financial Markets now owns 385,600 shares of the Wireless communications provider’s stock valued at $2,001,000 after buying an additional 112,852 shares during the last quarter. BTC Capital Management Inc. acquired a new stake in Turkcell Iletisim Hizmetleri A.S. during the 1st quarter valued at $1,073,000. StoneX Group Inc. bought a new position in Turkcell Iletisim Hizmetleri A.S. during the first quarter worth $996,000. Citigroup Inc. increased its holdings in shares of Turkcell Iletisim Hizmetleri A.S. by 12.9% in the third quarter. Citigroup Inc. now owns 175,121 shares of the Wireless communications provider’s stock valued at $828,000 after purchasing an additional 19,996 shares during the last quarter. Finally, Capital Wealth Planning LLC bought a new position in shares of Turkcell Iletisim Hizmetleri A.S. in the first quarter valued at about $880,000.

About Turkcell Iletisim Hizmetleri A.S.

Turkcell Iletisim Hizmetleri A.S. provides digital services in Turkey, Ukraine, Belarus, Turkish Republic of Northern Cyprus, and the Netherlands. It operates through Turkcell Turkey, Turkcell International, and Techfin segments. It offers work contact services, such as mobile communications, fixed business internet and business phone, and customer loyalty and programs; digital business services comprising uninterrupted access, cyber security, data center, Internet of Things, big data, e-transformation, technologies, and managed services, and cloud solutions.