Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Sees Strong Trading Volume - Here's What Happened

Key Points

• Turkcell Iletisim Hizmetleri AS experienced a significant trading volume increase of 128%, with nearly 2 million shares traded, while the stock price slightly decreased to $5.85.
• Wall Street analysts have downgraded the stock rating from "strong-buy" to "buy", indicating a shift in market confidence.
• The company reported a $0.13 EPS for the last quarter, with total revenue reaching $1.37 billion and a net margin of 13.15%.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) shares saw an uptick in trading volume on Wednesday . 1,987,602 shares traded hands during trading, an increase of 128% from the previous session's volume of 873,614 shares.The stock last traded at $5.85 and had previously closed at $5.86.

Wall Street Analysts Forecast Growth

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

Turkcell Iletisim Hizmetleri AS Stock Performance

The stock's 50-day moving average price is $5.79 and its 200 day moving average price is $6.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market cap of $5.32 billion, a P/E ratio of 4.11 and a beta of 0.99.

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

Institutional Trading of Turkcell Iletisim Hizmetleri AS

Several hedge funds have recently modified their holdings of the stock. Evergreen Capital Management LLC acquired a new stake in Turkcell Iletisim Hizmetleri AS in the 2nd quarter valued at $143,000. Corient Private Wealth LLC boosted its holdings in Turkcell Iletisim Hizmetleri AS by 80.7% during the 2nd quarter. Corient Private Wealth LLC now owns 192,180 shares of the Wireless communications provider's stock worth $1,163,000 after acquiring an additional 85,848 shares during the last quarter. Vident Advisory LLC boosted its holdings in Turkcell Iletisim Hizmetleri AS by 1.9% during the 2nd quarter. Vident Advisory LLC now owns 334,622 shares of the Wireless communications provider's stock worth $2,024,000 after acquiring an additional 6,276 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Turkcell Iletisim Hizmetleri AS by 82.7% during the 2nd quarter. Quantinno Capital Management LP now owns 161,838 shares of the Wireless communications provider's stock worth $979,000 after acquiring an additional 73,234 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Turkcell Iletisim Hizmetleri AS by 72.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 543,971 shares of the Wireless communications provider's stock worth $3,291,000 after acquiring an additional 229,016 shares during the last quarter.

About Turkcell Iletisim Hizmetleri AS

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.