Zacks Investment Research Downgrades Turkcell Iletisim Hizmetleri AS (NYSE:TKC) to Hold

Zacks Investment Research lowered shares of Turkcell Iletisim Hizmetleri AS (NYSE:TKC) from a buy rating to a hold rating in a research report sent to investors on Wednesday, July 19th.

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

Other equities analysts have also recently issued research reports about the company. VTB Capital upgraded Turkcell Iletisim Hizmetleri AS from a hold rating to a buy rating in a report on Friday, May 5th. Berenberg Bank assumed coverage on Turkcell Iletisim Hizmetleri AS in a research note on Tuesday, May 9th. They issued a hold rating on the stock. ValuEngine cut Turkcell Iletisim Hizmetleri AS from a buy rating to a hold rating in a research note on Thursday, June 8th. Finally, BidaskClub upgraded Turkcell Iletisim Hizmetleri AS from a hold rating to a buy rating in a research note on Sunday, July 16th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Turkcell Iletisim Hizmetleri AS presently has an average rating of Buy and an average target price of $9.50.

Turkcell Iletisim Hizmetleri AS (TKC) traded up 1.87% during mid-day trading on Wednesday, reaching $9.28. 497,621 shares of the company’s stock traded hands. The stock’s market capitalization is $8.17 billion. Turkcell Iletisim Hizmetleri AS has a 12 month low of $6.35 and a 12 month high of $9.48. The firm’s 50-day moving average price is $8.68 and its 200 day moving average price is $8.34.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last posted its earnings results on Thursday, July 27th. The Wireless communications provider reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The company had revenue of $1.22 billion during the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 17.65% and a net margin of 12.16%. Equities research analysts predict that Turkcell Iletisim Hizmetleri AS will post $0.66 EPS for the current year.

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The business also recently declared a special dividend, which will be paid on Monday, September 25th. Shareholders of record on Monday, September 18th will be given a dividend of $0.3213 per share. The ex-dividend date is Friday, September 15th. Turkcell Iletisim Hizmetleri AS’s dividend payout ratio (DPR) is 45.45%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Turkcell Iletisim Hizmetleri AS during the fourth quarter worth $1,876,000. Comerica Bank raised its position in shares of Turkcell Iletisim Hizmetleri AS by 7.0% in the fourth quarter. Comerica Bank now owns 51,379 shares of the Wireless communications provider’s stock worth $362,000 after buying an additional 3,360 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Turkcell Iletisim Hizmetleri AS during the fourth quarter worth approximately $930,000. Two Sigma Investments LP purchased a new position in shares of Turkcell Iletisim Hizmetleri AS during the fourth quarter worth approximately $878,000. Finally, Guggenheim Capital LLC raised its position in shares of Turkcell Iletisim Hizmetleri AS by 3.0% in the fourth quarter. Guggenheim Capital LLC now owns 69,099 shares of the Wireless communications provider’s stock worth $476,000 after buying an additional 2,029 shares in the last quarter. 5.68% of the stock is currently owned by institutional investors and hedge funds.

Turkcell Iletisim Hizmetleri AS Company Profile

Turkcell Iletisim Hizmetleri AS is engaged in establishing and operating a Global System for Mobile Communications (GSM) network in Turkey and regional states. The Company’s segments include Turkcell Turkey, which includes the operations of Turkcell Superonline, Turkcell Satis ve Dagitim Hizmetleri A.S., group call center operations of Global Bilgi Pazarlama Danisma ve Cagri Servisi Hizmetleri A.S., Turktell Bilisim Servisleri A.S., Kule Hizmet ve Isletmecilik A.S., Turkcell Odeme Hizmetleri A.S.

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