Zacks Investment Research Upgrades Turkcell Iletisim Hizmetleri AS (TKC) to “Buy”

Zacks Investment Research upgraded shares of Turkcell Iletisim Hizmetleri AS (NYSE:TKC) from a hold rating to a buy rating in a research report released on Saturday. The firm currently has $10.00 target price on the Wireless communications provider’s stock.

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

TKC has been the topic of several other reports. BidaskClub upgraded shares of Turkcell Iletisim Hizmetleri AS from a buy rating to a strong-buy rating in a research note on Tuesday, August 1st. Citigroup Inc. upgraded shares of Turkcell Iletisim Hizmetleri AS from a neutral rating to a buy rating in a research note on Tuesday, July 25th. ValuEngine lowered shares of Turkcell Iletisim Hizmetleri AS from a buy rating to a hold rating in a research note on Thursday, June 8th. Finally, TheStreet upgraded shares of Turkcell Iletisim Hizmetleri AS from a c rating to a b- rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $10.00.

Shares of Turkcell Iletisim Hizmetleri AS (NYSE:TKC) opened at 8.84 on Friday. The company’s market capitalization is $7.78 billion. The company has a 50-day moving average of $9.25 and a 200-day moving average of $8.60. Turkcell Iletisim Hizmetleri AS has a one year low of $6.35 and a one year high of $9.69.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last issued its quarterly earnings results on Thursday, July 27th. The Wireless communications provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. Turkcell Iletisim Hizmetleri AS had a net margin of 12.16% and a return on equity of 17.65%. The firm had revenue of $1.22 billion for the quarter. On average, analysts anticipate that Turkcell Iletisim Hizmetleri AS will post $0.66 earnings per share for the current year.

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The company also recently disclosed a special dividend, which will be paid on Monday, September 25th. Stockholders of record on Monday, September 18th will be given a $0.3213 dividend. The ex-dividend date of this dividend is Friday, September 15th. Turkcell Iletisim Hizmetleri AS’s dividend payout ratio (DPR) is presently 92.73%.

Several institutional investors and hedge funds have recently made changes to their positions in TKC. Wells Fargo & Company MN grew its position in shares of Turkcell Iletisim Hizmetleri AS by 41.2% in the 1st quarter. Wells Fargo & Company MN now owns 1,336,833 shares of the Wireless communications provider’s stock valued at $11,068,000 after acquiring an additional 389,733 shares during the period. Bank of New York Mellon Corp grew its position in shares of Turkcell Iletisim Hizmetleri AS by 43.8% in the 1st quarter. Bank of New York Mellon Corp now owns 39,153 shares of the Wireless communications provider’s stock valued at $324,000 after acquiring an additional 11,917 shares during the period. Comerica Bank grew its position in shares of Turkcell Iletisim Hizmetleri AS by 2.0% in the 1st quarter. Comerica Bank now owns 52,412 shares of the Wireless communications provider’s stock valued at $458,000 after acquiring an additional 1,033 shares during the period. World Asset Management Inc grew its position in shares of Turkcell Iletisim Hizmetleri AS by 1.5% in the 1st quarter. World Asset Management Inc now owns 54,833 shares of the Wireless communications provider’s stock valued at $454,000 after acquiring an additional 821 shares during the period. Finally, Gabelli Funds LLC grew its position in shares of Turkcell Iletisim Hizmetleri AS by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 637,000 shares of the Wireless communications provider’s stock valued at $5,274,000 after acquiring an additional 6,000 shares during the period. 4.77% of the stock is owned by institutional investors.

Turkcell Iletisim Hizmetleri AS 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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Analyst Recommendations for Turkcell Iletisim Hizmetleri AS (NYSE:TKC)

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