Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Turkcell Iletisim Hizmetleri AS experienced a significant increase in trading volume, with about 2,010,556 shares changing hands, up 108% from the previous day.
• Wall Street analysts have downgraded Turkcell's rating from strong-buy to buy, indicating a shift in investor sentiment.
• The company reported a quarterly revenue of $1.37 billion and earnings per share of $0.13, with analysts forecasting earnings of $0.26 for the current fiscal year.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 2,010,556 shares traded hands during mid-day trading, an increase of 108% from the previous session's volume of 968,526 shares.The stock last traded at $6.09 and had previously closed at $6.10.

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 research report on Friday, July 18th.

Turkcell Iletisim Hizmetleri AS Price Performance

The stock has a market capitalization of $5.35 billion, a P/E ratio of 4.14 and a beta of 0.99. The business's 50 day simple moving average is $5.80 and its two-hundred day simple moving average is $6.04. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.52.

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

Institutional Trading of Turkcell Iletisim Hizmetleri AS

A number of large investors have recently added to or reduced their stakes in TKC. Northern Trust Corp increased its holdings in Turkcell Iletisim Hizmetleri AS by 389.1% during the fourth quarter. Northern Trust Corp now owns 298,845 shares of the Wireless communications provider's stock worth $1,945,000 after buying an additional 237,739 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Turkcell Iletisim Hizmetleri AS in the fourth quarter worth about $2,082,000. Quantinno Capital Management LP increased its stake in shares of Turkcell Iletisim Hizmetleri AS by 8.1% in the fourth quarter. Quantinno Capital Management LP now owns 40,175 shares of the Wireless communications provider's stock worth $262,000 after purchasing an additional 2,998 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Turkcell Iletisim Hizmetleri AS in the fourth quarter worth about $304,000. Finally, GAMMA Investing LLC increased its stake in shares of Turkcell Iletisim Hizmetleri AS by 545.6% in the first quarter. GAMMA Investing LLC now owns 93,306 shares of the Wireless communications provider's stock worth $580,000 after purchasing an additional 78,853 shares in 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.

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