Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Sees Strong Trading Volume – Here’s Why

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) shares saw an uptick in trading volume on Monday. Approximately 1,801,913 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 1,697,028 shares. The stock last traded at $4.9050 and had previously closed at $4.93.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Turkcell Iletisim Hizmetleri AS from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Turkcell Iletisim Hizmetleri AS Price Performance

The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 10.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.48 and a current ratio of 1.49. The company has a fifty day simple moving average of $5.21 and a two-hundred day simple moving average of $5.71.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last released its earnings results on Thursday, August 13th. The Wireless communications provider reported $0.13 earnings per share (EPS) for the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 6.52% and a net margin of 7.13%. The company had revenue of $1.58 billion for the quarter. As a group, equities research analysts expect that Turkcell Iletisim Hizmetleri AS will post 0.53 earnings per share for the current fiscal year.

Turkcell Iletisim Hizmetleri AS Announces Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 10th will be issued a $0.2168 dividend. This represents a yield of 425.0%. The ex-dividend date of this dividend is Thursday, December 10th. Turkcell Iletisim Hizmetleri AS’s dividend payout ratio (DPR) is currently 36.73%.

Institutional Trading of Turkcell Iletisim Hizmetleri AS

A number of institutional investors and hedge funds have recently made changes to their positions in TKC. Renaissance Technologies LLC increased its stake in Turkcell Iletisim Hizmetleri AS by 28.8% in the first quarter. Renaissance Technologies LLC now owns 1,649,707 shares of the Wireless communications provider’s stock valued at $9,948,000 after acquiring an additional 369,107 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 1,053.2% in the 1st quarter. Quantinno Capital Management LP now owns 567,357 shares of the Wireless communications provider’s stock valued at $3,421,000 after purchasing an additional 518,158 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Turkcell Iletisim Hizmetleri AS in the 1st quarter valued at $3,413,000. Sequoia Financial Advisors LLC boosted its holdings in shares of 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 purchasing an additional 40,253 shares in the last quarter. Finally, Corient Private Wealth LP increased its stake in shares of Turkcell Iletisim Hizmetleri AS by 5.2% in the 2nd quarter. Corient Private Wealth LP now owns 142,600 shares of the Wireless communications provider’s stock valued at $838,000 after purchasing an additional 7,028 shares during the last quarter.

About Turkcell Iletisim Hizmetleri AS

Turkcell Iletisim Hizmetleri A.S. is a Türkiye-based telecommunications and technology company that provides mobile communications, broadband internet and digital services. Through its Turkcell brand, the company offers wireless voice and data services, mobile applications, fixed broadband connections and related communications products for individual and business customers.

Turkcell also develops and distributes digital services, including messaging, payment, entertainment, cloud, cybersecurity and enterprise technology solutions.