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

Key Points

• Turkcell Iletisim Hizmetleri AS's shares gapped down from a previous close of $5.91 to open at $5.44, trading at $5.52 with a total volume of 812,461 shares by mid-session.
• Analysts are currently rating Turkcell shares with a consensus of "Hold," with Weiss Ratings maintaining this stance, and Wall Street Zen downgrading the stock from "strong-buy" to "buy."
• Institutional investors have increased their positions in Turkcell, with Marshall Wace LLP raising its stake by nearly 285%, highlighting growing confidence in the company's future prospects.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $5.91, but opened at $5.44. Turkcell Iletisim Hizmetleri AS shares last traded at $5.52, with a volume of 812,461 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently commented on TKC. Weiss Ratings restated a "hold (c)" rating on shares of Turkcell Iletisim Hizmetleri AS in a research report on Wednesday, October 8th. Wall Street Zen downgraded Turkcell Iletisim Hizmetleri AS from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Turkcell Iletisim Hizmetleri AS Stock Performance

The firm has a fifty day simple moving average of $5.89 and a 200-day simple moving average of $5.96. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 3.76 and a beta of 0.99.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TKC. Marshall Wace LLP raised its stake 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 during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Turkcell Iletisim Hizmetleri AS by 37.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,601,742 shares of the Wireless communications provider's stock worth $15,741,000 after acquiring an additional 712,257 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Turkcell Iletisim Hizmetleri AS during the second quarter worth about $3,026,000. Qube Research & Technologies Ltd lifted its holdings in shares of 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 valued at $3,291,000 after purchasing an additional 229,016 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Turkcell Iletisim Hizmetleri AS by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 1,049,023 shares of the Wireless communications provider's stock valued at $6,347,000 after purchasing an additional 205,693 shares during the period.

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.

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