Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Sees Large Volume Increase - Still a Buy?

Key Points

• Turkcell Iletisim Hizmetleri AS experienced a significant increase in trading volume, with 2.87 million shares traded, a rise of 269% from the previous session.
• Wall Street analysts downgraded Turkcell's rating from “strong-buy” to “buy”, indicating a shift in market sentiment.
• The company reported a quarterly earnings per share of $0.13, with revenue totaling $1.37 billion, reflecting a net margin of 13.15%.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 2,865,494 shares changed hands during trading, an increase of 269% from the previous session's volume of 776,825 shares.The stock last traded at $5.44 and had previously closed at $5.50.

Wall Street Analyst Weigh In

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

Turkcell Iletisim Hizmetleri AS Price Performance

The stock's fifty day moving average price is $5.79 and its 200-day moving average price is $6.08. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 4.00 and a beta of 0.99. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The Wireless communications provider reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $1.37 billion during 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 research analysts forecast that Turkcell Iletisim Hizmetleri AS will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Turkcell Iletisim Hizmetleri AS

A number of hedge funds have recently added to or reduced their stakes in TKC. Marshall Wace LLP lifted its holdings in Turkcell Iletisim Hizmetleri AS by 284.9% during the 2nd quarter. Marshall Wace LLP now owns 2,595,560 shares of the Wireless communications provider's stock worth $15,703,000 after buying an additional 1,921,276 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Turkcell Iletisim Hizmetleri AS by 37.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,601,742 shares of the Wireless communications provider's stock valued at $15,741,000 after purchasing an additional 712,257 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Turkcell Iletisim Hizmetleri AS in the 2nd quarter valued at $3,026,000. Millennium Management LLC acquired a new stake in shares of Turkcell Iletisim Hizmetleri AS in the 4th quarter valued at $2,082,000. Finally, Northern Trust Corp raised its holdings in shares of 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 valued at $1,945,000 after purchasing an additional 237,739 shares in the last quarter.

Turkcell Iletisim Hizmetleri AS Company 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.