Turkcell Iletisim Hizmetleri A.S. (TKC) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $9.50 target price on the Wireless communications provider’s stock.

According to Zacks, “Turkcell is the leading provider of mobile communications services in Turkey. “

A number of other equities analysts have also recently issued reports on the company. Berenberg Bank assumed coverage on Turkcell Iletisim Hizmetleri A.S. in a report on Tuesday, May 9th. They set a hold rating for the company. ValuEngine cut Turkcell Iletisim Hizmetleri A.S. from a buy rating to a hold rating in a report on Thursday, June 8th. VTB Capital upgraded Turkcell Iletisim Hizmetleri A.S. from a hold rating to a buy rating in a report on Monday, May 15th. Finally, HSBC Holdings plc upgraded Turkcell Iletisim Hizmetleri A.S. from a hold rating to a buy rating in a report on Thursday, February 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $9.50.

Shares of Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) opened at 8.20 on Wednesday. The stock’s 50 day moving average price is $8.36 and its 200 day moving average price is $7.83. Turkcell Iletisim Hizmetleri A.S. has a 12 month low of $6.35 and a 12 month high of $9.89.

Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) last announced its earnings results on Wednesday, April 26th. The Wireless communications provider reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. The firm had revenue of $1.10 billion during the quarter. Turkcell Iletisim Hizmetleri A.S. had a return on equity of 9.82% and a net margin of 10.15%. Analysts expect that Turkcell Iletisim Hizmetleri A.S. will post $0.66 EPS for the current fiscal year.

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The firm also recently disclosed an annual dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, June 19th will be issued a dividend of $0.142 per share. This represents a yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 15th. Turkcell Iletisim Hizmetleri A.S.’s payout ratio is currently 52.08%.

A number of institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new position in Turkcell Iletisim Hizmetleri A.S. during the first quarter worth about $713,000. Macquarie Group Ltd. boosted its position in Turkcell Iletisim Hizmetleri A.S. by 3.8% in the first quarter. Macquarie Group Ltd. now owns 3,196,342 shares of the Wireless communications provider’s stock worth $26,467,000 after buying an additional 118,467 shares during the last quarter. Paloma Partners Management Co acquired a new position in Turkcell Iletisim Hizmetleri A.S. during the first quarter worth about $111,000. Two Sigma Securities LLC acquired a new position in Turkcell Iletisim Hizmetleri A.S. during the first quarter worth about $105,000. Finally, Bank of America Corp DE boosted its position in Turkcell Iletisim Hizmetleri A.S. by 55.1% in the first quarter. Bank of America Corp DE now owns 1,296,907 shares of the Wireless communications provider’s stock worth $10,738,000 after buying an additional 460,832 shares during the last quarter. Institutional investors own 5.62% of the company’s stock.

Turkcell Iletisim Hizmetleri A.S. Company Profile

Turkcell Iletisim Hizmetleri AS is engaged in establishing and operating a Global System for Mobile Communications (GSM) network in Turkey and regional states. The Company’s segments include Turkcell Turkey, which includes the operations of Turkcell Superonline, Turkcell Satis ve Dagitim Hizmetleri A.S., group call center operations of Global Bilgi Pazarlama Danisma ve Cagri Servisi Hizmetleri A.S., Turktell Bilisim Servisleri A.S., Kule Hizmet ve Isletmecilik A.S., Turkcell Odeme Hizmetleri A.S.

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