Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Shares Shorted: Short Interest Up 59.3% in September

Key Points

• Short interest surged 59.3% to 3.92 million shares as of September 30, representing 0.4% of Turkcell’s outstanding stock and 1.3 days of average trading volume.
• TKC shares fell 1.1% to $4.92, near their 52-week low of $4.82. The company reported quarterly earnings of $0.13 per share on $1.58 billion in revenue, while analysts project $0.53 in full-year EPS.
• Turkcell declared a $0.2168-per-share annual dividend, and the stock carries a consensus “Hold” rating after Weiss Ratings downgraded it from “hold (c)” to “hold (c-).”

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 3,917,836 shares, a growth of 59.3% from the September 15th total of 2,459,718 shares. Based on an average daily volume of 2,925,251 shares, the short-interest ratio is currently 1.3 days. Currently, 0.4% of the company's stock are sold short.

Turkcell Iletisim Hizmetleri AS Stock Down 1.1%

Shares of NYSE:TKC traded down $0.06 during midday trading on Friday, reaching $4.92. 270,993 shares of the company were exchanged, compared to its average volume of 1,693,961. The firm has a market cap of $4.33 billion, a PE ratio of 10.07 and a beta of 0.91. Turkcell Iletisim Hizmetleri AS has a fifty-two week low of $4.82 and a fifty-two week high of $7.18. The stock has a fifty day simple moving average of $5.22 and a two-hundred day simple moving average of $5.72. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.57.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) last announced its earnings results on Thursday, August 13th. The Wireless communications provider reported $0.13 earnings per share for the quarter. The firm had revenue of $1.58 billion during the quarter. Turkcell Iletisim Hizmetleri AS had a net margin of 7.13% and a return on equity of 6.52%. As a group, sell-side analysts forecast that Turkcell Iletisim Hizmetleri AS will post 0.53 earnings per share for the current year.

Turkcell Iletisim Hizmetleri AS Announces Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 10th will be given a dividend of $0.2168 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a yield of 425.0%. Turkcell Iletisim Hizmetleri AS's dividend payout ratio is 14.29%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Turkcell Iletisim Hizmetleri AS from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of "Hold".

Hedge Funds Weigh In On Turkcell Iletisim Hizmetleri AS

Several hedge funds have recently made changes to their positions in TKC. Formuepleje A S bought a new stake in shares of Turkcell Iletisim Hizmetleri AS in the third quarter worth $442,000. Foster Group Inc. acquired a new position in Turkcell Iletisim Hizmetleri AS during the third quarter worth $66,000. QRG Capital Management Inc. boosted its holdings in Turkcell Iletisim Hizmetleri AS by 8.6% during the second quarter. QRG Capital Management Inc. now owns 25,404 shares of the Wireless communications provider's stock worth $149,000 after purchasing an additional 2,021 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Turkcell Iletisim Hizmetleri AS by 34.4% in the second quarter. Sequoia Financial Advisors LLC now owns 157,343 shares of the Wireless communications provider's stock valued at $925,000 after purchasing an additional 40,253 shares in the last quarter. Finally, Nykredit A S bought a new position in Turkcell Iletisim Hizmetleri AS in the second quarter valued at $352,000.

About Turkcell Iletisim Hizmetleri AS

Turkcell Iletisim Hizmetleri A.S. is a Türkiye-based telecommunications and technology company that provides mobile communications, broadband internet and digital services. Through its Turkcell brand, the company offers wireless voice and data services, mobile applications, fixed broadband connections and related communications products for individual and business customers.

Turkcell also develops and distributes digital services, including messaging, payment, entertainment, cloud, cybersecurity and enterprise technology solutions.

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