Turkcell Iletisim Hizmetleri A.S. (TKC) Trading Down 8.4% After Earnings Miss

Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) shares traded down 8.4% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $6.33 and last traded at $6.40. 2,025,141 shares were traded during trading, an increase of 210% from the average session volume of 653,621 shares. The stock had previously closed at $6.99.

The Wireless communications provider reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). Turkcell Iletisim Hizmetleri A.S. had a net margin of 7.04% and a return on equity of 12.65%. The company had revenue of $1.05 billion for the quarter.

Get Turkcell Iletisim Hizmetleri A.S. alerts:

Several analysts have recently commented on the stock. Zacks Investment Research cut shares of Turkcell Iletisim Hizmetleri A.S. from a “hold” rating to a “sell” rating in a research note on Thursday, November 22nd. VTB Capital lowered shares of Turkcell Iletisim Hizmetleri A.S. from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of Turkcell Iletisim Hizmetleri A.S. from a “neutral” rating to an “overweight” rating in a report on Friday, January 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $7.25.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley raised its holdings in Turkcell Iletisim Hizmetleri A.S. by 14.6% in the third quarter. Morgan Stanley now owns 5,576,806 shares of the Wireless communications provider’s stock worth $26,880,000 after purchasing an additional 712,143 shares during the period. Oldfield Partners LLP raised its holdings in shares of Turkcell Iletisim Hizmetleri A.S. by 11.0% during the fourth quarter. Oldfield Partners LLP now owns 5,183,104 shares of the Wireless communications provider’s stock worth $29,129,000 after acquiring an additional 512,306 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Turkcell Iletisim Hizmetleri A.S. by 631.7% during the third quarter. JPMorgan Chase & Co. now owns 2,784,989 shares of the Wireless communications provider’s stock worth $13,423,000 after acquiring an additional 2,404,352 shares during the period. FMR LLC raised its holdings in shares of Turkcell Iletisim Hizmetleri A.S. by 426.6% during the third quarter. FMR LLC now owns 1,833,407 shares of the Wireless communications provider’s stock worth $8,837,000 after acquiring an additional 1,485,233 shares during the period. Finally, Freestone Capital Holdings LLC raised its holdings in shares of Turkcell Iletisim Hizmetleri A.S. by 8,176.3% during the fourth quarter. Freestone Capital Holdings LLC now owns 1,250,550 shares of the Wireless communications provider’s stock worth $7,028,000 after acquiring an additional 1,235,440 shares during the period. Institutional investors own 3.46% of the company’s stock.

The company has a current ratio of 1.56, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $6.15 billion, a P/E ratio of 8.21 and a beta of 0.70.

WARNING: “Turkcell Iletisim Hizmetleri A.S. (TKC) Trading Down 8.4% After Earnings Miss” was first published by Ticker Report and is owned by of Ticker Report. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/4169538/turkcell-iletisim-hizmetleri-a-s-tkc-trading-down-8-4-after-earnings-miss.html.

About Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC)

Turkcell Iletisim Hizmetleri A.S. provides mobile telecommunication services for consumer, corporate, and wholesale customers. The company operates in two segments, Turkcell Turkey and Turkcell International. It offers mobile communication and fixed voice services; and broadband services that consist of mobile broadband, fiber to the home/building, and ADSL.

Featured Article: What is the quiet period?