Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Shares Gap Down – What’s Next?

Shares of Turkcell Iletisim Hizmetleri AS (NYSE:TKC) gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Turkcell Iletisim Hizmetleri AS in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Turkcell Iletisim Hizmetleri AS Stock Performance

The company has a fifty day moving average price of $5.44 and a two-hundred day moving average price of $5.87. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 10.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.49 and a quick ratio of 1.48.

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 firm 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 EPS for the current year.

Hedge Funds Weigh In On Turkcell Iletisim Hizmetleri AS

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in Turkcell Iletisim Hizmetleri AS by 28.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,649,707 shares of the Wireless communications provider’s stock worth $9,948,000 after purchasing an additional 369,107 shares during the period. UBS Group AG grew its stake in Turkcell Iletisim Hizmetleri AS by 230.5% in the fourth quarter. UBS Group AG now owns 745,889 shares of the Wireless communications provider’s stock valued at $4,080,000 after purchasing an additional 520,178 shares in the last quarter. Quantinno Capital Management LP increased its position 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 worth $3,421,000 after purchasing an additional 518,158 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Turkcell Iletisim Hizmetleri AS in the 1st quarter worth about $3,413,000. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Turkcell Iletisim Hizmetleri AS by 34.4% during the 2nd 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.