Connor Clark & Lunn Investment Management Ltd. Acquires New Stake in Turkcell Iletisim Hizmetleri AS $TKC

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired 55,643 shares of Turkcell Iletisim Hizmetleri AS, valued at approximately $346,000.
• Turkcell reported a net margin of 13.15% and a return on equity of 7.00% in its most recent quarterly earnings, with revenue reaching $1.37 billion.
• The company recently announced a dividend payment of $0.0866 per share, resulting in a significant dividend yield of 402.0%.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 55,643 shares of the Wireless communications provider's stock, valued at approximately $346,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP raised its position in shares of Turkcell Iletisim Hizmetleri AS by 136.2% during the fourth quarter. Marshall Wace LLP now owns 515,974 shares of the Wireless communications provider's stock valued at $3,359,000 after buying an additional 297,554 shares during the last quarter. Hsbc Holdings PLC increased its stake in Turkcell Iletisim Hizmetleri AS by 7.1% in the 4th quarter. Hsbc Holdings PLC now owns 461,819 shares of the Wireless communications provider's stock worth $3,008,000 after acquiring an additional 30,545 shares during the last quarter. Vise Technologies Inc. increased its stake in Turkcell Iletisim Hizmetleri AS by 84.2% in the 4th quarter. Vise Technologies Inc. now owns 395,681 shares of the Wireless communications provider's stock worth $2,576,000 after acquiring an additional 180,918 shares during the last quarter. Millennium Management LLC bought a new stake in Turkcell Iletisim Hizmetleri AS in the 4th quarter worth approximately $2,082,000. Finally, Northern Trust Corp increased its stake in Turkcell Iletisim Hizmetleri AS by 389.1% in the 4th quarter. Northern Trust Corp now owns 298,845 shares of the Wireless communications provider's stock worth $1,945,000 after acquiring an additional 237,739 shares during the last quarter.

Turkcell Iletisim Hizmetleri AS Trading Up 1.1%

TKC traded up $0.0650 during trading hours on Monday, reaching $6.0950. 559,660 shares of the company's stock traded hands, compared to its average volume of 630,422. The firm has a 50-day moving average price of $5.86 and a 200 day moving average price of $6.25. Turkcell Iletisim Hizmetleri AS has a 52-week low of $5.54 and a 52-week high of $7.63. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.36 billion, a PE ratio of 4.15 and a beta of 0.92.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The Wireless communications provider reported $0.13 earnings per share (EPS) for the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 7.00% and a net margin of 13.15%.The company had revenue of $1.37 billion during the quarter. As a group, sell-side analysts predict that Turkcell Iletisim Hizmetleri AS will post 0.26 EPS for the current fiscal year.

Turkcell Iletisim Hizmetleri AS Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were issued a dividend of $0.0866 per share. The ex-dividend date was Monday, June 23rd. This represents a yield of 402.0%. Turkcell Iletisim Hizmetleri AS's payout ratio is presently 10.88%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Turkcell Iletisim Hizmetleri AS from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th.

Turkcell Iletisim Hizmetleri AS Profile

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.