Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Shares Gap Down - Here's Why

Key Points

• Turkcell shares dropped sharply, opening at $4.94 versus a prior close of $5.19 and last trading at $4.91 on volume of 704,799 shares.
• Analysts maintain a cautious outlook: Weiss Ratings reaffirmed a “Hold (C)” rating, and the stock has a consensus “Hold” rating from MarketBeat’s coverage.
• The company reported quarterly revenue of $1.58 billion and earnings of $0.13 per share, while analysts expect full-year earnings of approximately $0.53 per share.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $5.19, but opened at $4.94. Turkcell Iletisim Hizmetleri AS shares last traded at $4.91, with a volume of 704,799 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Turkcell Iletisim Hizmetleri AS in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Turkcell Iletisim Hizmetleri AS presently has a consensus rating of "Hold".

Turkcell Iletisim Hizmetleri AS Stock Performance

The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $5.47 and a two-hundred day moving average price of $5.90. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 10.09 and a beta of 0.95.

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

Institutional Investors Weigh In On Turkcell Iletisim Hizmetleri AS

Several hedge funds have recently modified their holdings of TKC. Sequoia Financial Advisors LLC raised its holdings in Turkcell Iletisim Hizmetleri AS by 34.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 157,343 shares of the Wireless communications provider's stock valued at $925,000 after acquiring an additional 40,253 shares during the last quarter. Nykredit A S acquired a new stake in shares of Turkcell Iletisim Hizmetleri AS during the second quarter worth $352,000. Corient Private Wealth LP boosted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 5.2% during the second quarter. Corient Private Wealth LP now owns 142,600 shares of the Wireless communications provider's stock worth $838,000 after purchasing an additional 7,028 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Turkcell Iletisim Hizmetleri AS by 27.4% in the second quarter. HB Wealth Management LLC now owns 16,911 shares of the Wireless communications provider's stock valued at $99,000 after purchasing an additional 3,639 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in shares of Turkcell Iletisim Hizmetleri AS by 87.5% in the second quarter. TD Waterhouse Canada Inc. now owns 7,500 shares of the Wireless communications provider's stock valued at $44,000 after purchasing an additional 3,500 shares during the period.

Turkcell Iletisim Hizmetleri AS Company Profile

Turkcell İletişim Hizmetleri A.Ş. is a telecommunications and technology company headquartered in Istanbul, Türkiye. Founded in 1994, the company operates one of Türkiye's major mobile communications networks and provides wireless voice, messaging and data services to individual and business customers.

In addition to mobile connectivity, Turkcell offers fixed broadband, fiber internet, pay television and other digital services. Its portfolio includes cloud and data-center services, cybersecurity, digital communication and content platforms, and technology solutions for corporate and government customers.

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