Turkcell Iletisim Hizmetleri A.S. (TKC) Sees Significant Decline in Short Interest

Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 2,258,389 shares, a drop of 37.6% from the October 31st total of 3,618,131 shares. Based on an average trading volume of 730,779 shares, the short-interest ratio is currently 3.1 days.

A number of large investors have recently modified their holdings of TKC. Bank of Montreal Can bought a new position in Turkcell Iletisim Hizmetleri A.S. in the 2nd quarter valued at approximately $780,000. Commonwealth Equity Services LLC bought a new position in Turkcell Iletisim Hizmetleri A.S. in the 2nd quarter valued at approximately $156,000. Sei Investments Co. lifted its stake in Turkcell Iletisim Hizmetleri A.S. by 256.2% in the 2nd quarter. Sei Investments Co. now owns 143,518 shares of the Wireless communications provider’s stock valued at $939,000 after purchasing an additional 103,227 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Turkcell Iletisim Hizmetleri A.S. by 18.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 90,249 shares of the Wireless communications provider’s stock valued at $590,000 after purchasing an additional 14,146 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in Turkcell Iletisim Hizmetleri A.S. in the 2nd quarter valued at approximately $118,000. 3.60% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:TKC opened at $5.66 on Thursday. The company has a market capitalization of $5.30 billion, a P/E ratio of 7.26 and a beta of 0.46. The company has a quick ratio of 1.55, a current ratio of 1.56 and a debt-to-equity ratio of 1.00. Turkcell Iletisim Hizmetleri A.S. has a one year low of $3.93 and a one year high of $11.29.

Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) last issued its quarterly earnings data on Wednesday, October 24th. The Wireless communications provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.19. The business had revenue of $993.40 million during the quarter. Turkcell Iletisim Hizmetleri A.S. had a net margin of 7.04% and a return on equity of 12.65%. On average, research analysts forecast that Turkcell Iletisim Hizmetleri A.S. will post 0.63 earnings per share for the current fiscal year.

The business also recently disclosed an annual dividend, which will be paid on Wednesday, December 26th. Investors of record on Tuesday, December 18th will be paid a $0.115 dividend. This represents a yield of 2.09%. The ex-dividend date is Monday, December 17th. Turkcell Iletisim Hizmetleri A.S.’s payout ratio is 10.26%.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Turkcell Iletisim Hizmetleri A.S. from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. JPMorgan Chase & Co. downgraded shares of Turkcell Iletisim Hizmetleri A.S. from an “overweight” rating to a “neutral” rating in a research note on Monday, September 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

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About Turkcell Iletisim Hizmetleri A.S.

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.

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