Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Shares Gap Down – Here’s Why

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $5.19, but opened at $4.94. Turkcell Iletisim Hizmetleri AS shares last traded at $4.91, with a volume of 704,799 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turkcell Iletisim Hizmetleri AS in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Turkcell Iletisim Hizmetleri AS Stock Performance

The stock’s fifty day simple moving average is $5.47 and its two-hundred day simple moving average is $5.90. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 10.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.48 and a current ratio of 1.49.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last released its quarterly earnings data on Thursday, August 13th. The Wireless communications provider reported $0.13 EPS for the quarter. The business had revenue of $1.58 billion during the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 6.52% and a net margin of 7.13%. Equities research analysts anticipate that Turkcell Iletisim Hizmetleri AS will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Turkcell Iletisim Hizmetleri AS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of 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 worth $9,948,000 after acquiring an additional 369,107 shares in the last quarter. UBS Group AG boosted its position in Turkcell Iletisim Hizmetleri AS by 230.5% during the 4th quarter. UBS Group AG now owns 745,889 shares of the Wireless communications provider’s stock worth $4,080,000 after purchasing an additional 520,178 shares during the period. Quantinno Capital Management LP increased its holdings in 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. purchased a new position in Turkcell Iletisim Hizmetleri AS in the first quarter valued at about $3,413,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Turkcell Iletisim Hizmetleri AS by 34.4% during the second quarter. Sequoia Financial Advisors LLC now owns 157,343 shares of the Wireless communications provider’s stock worth $925,000 after purchasing an additional 40,253 shares in the last quarter.

Turkcell Iletisim Hizmetleri AS Company Profile

Turkcell İletişim Hizmetleri A.Ş. is a telecommunications and technology company headquartered in Istanbul, Türkiye. Founded in 1994, the company operates one of Türkiye’s major mobile communications networks and provides wireless voice, messaging and data services to individual and business customers.

In addition to mobile connectivity, Turkcell offers fixed broadband, fiber internet, pay television and other digital services. Its portfolio includes cloud and data-center services, cybersecurity, digital communication and content platforms, and technology solutions for corporate and government customers.