Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Turkcell Iletisim Hizmetleri AS (NYSE:TKC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.14 and traded as high as $6.57. Turkcell Iletisim Hizmetleri AS shares last traded at $6.5350, with a volume of 619,045 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Turkcell Iletisim Hizmetleri AS in a research note on Friday, March 27th. Wall Street Zen cut Turkcell Iletisim Hizmetleri AS from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Turkcell Iletisim Hizmetleri AS Stock Performance

The company’s 50 day simple moving average is $6.30 and its 200 day simple moving average is $6.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 1.70. The stock has a market cap of $5.75 billion, a PE ratio of 14.21 and a beta of 1.02.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last announced its earnings results on Sunday, February 15th. The Wireless communications provider reported $0.10 earnings per share for the quarter. The firm had revenue of $1.50 billion for the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 6.85% and a net margin of 7.39%. Analysts expect that Turkcell Iletisim Hizmetleri AS will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Turkcell Iletisim Hizmetleri AS

A number of hedge funds have recently made changes to their positions in TKC. SBI Securities Co. Ltd. boosted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 50.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 5,097 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 1,698 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Turkcell Iletisim Hizmetleri AS during the fourth quarter worth about $28,000. WealthCollab LLC raised its position in Turkcell Iletisim Hizmetleri AS by 59.7% in the fourth quarter. WealthCollab LLC now owns 6,002 shares of the Wireless communications provider’s stock worth $33,000 after acquiring an additional 2,244 shares during the period. Arax Advisory Partners raised its position in Turkcell Iletisim Hizmetleri AS by 381.2% in the fourth quarter. Arax Advisory Partners now owns 7,493 shares of the Wireless communications provider’s stock worth $41,000 after acquiring an additional 5,936 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in Turkcell Iletisim Hizmetleri AS in the fourth quarter valued at about $44,000.

About Turkcell Iletisim Hizmetleri AS

Turkcell Iletisim Hizmetleri AS, traded on the NYSE under the symbol TKC, is a leading integrated telecommunications and technology company headquartered in Istanbul, Turkey. Since its founding in 1994 as the country’s first GSM operator, Turkcell has expanded its footprint to offer a comprehensive suite of mobile voice, messaging and data services to millions of subscribers. The company has made significant investments in nationwide 4.5G and 5G network infrastructure to deliver high-speed connectivity across both urban centers and rural regions.

In addition to its core mobile offerings, Turkcell provides fixed broadband and fiber-optic services tailored to consumer and enterprise customers.