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

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

Several other brokerages also recently weighed in on TKC. BidaskClub raised Turkcell Iletisim Hizmetleri AS from a buy rating to a strong-buy rating in a report on Tuesday, August 1st. TheStreet raised Turkcell Iletisim Hizmetleri AS from a c rating to a b- rating in a report on Wednesday, August 16th. Citigroup Inc. raised Turkcell Iletisim Hizmetleri AS from a neutral rating to a buy rating in a report on Tuesday, July 25th. Finally, ValuEngine downgraded Turkcell Iletisim Hizmetleri AS from a buy rating to a hold rating in a report on Thursday, June 8th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $10.00.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) opened at 8.55 on Friday. The company’s market cap is $7.52 billion. The firm’s 50-day moving average is $9.25 and its 200 day moving average is $8.60. Turkcell Iletisim Hizmetleri AS has a 1-year low of $6.35 and a 1-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 for the quarter, topping the consensus estimate of $0.18 by $0.05. The business had revenue of $1.22 billion during the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 17.65% and a net margin of 12.16%. Analysts predict that Turkcell Iletisim Hizmetleri AS will post $0.66 earnings per share for the current fiscal year.

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The company also recently announced a special dividend, which was paid on Monday, September 25th. Investors of record on Monday, September 18th were issued a dividend of $0.3213 per share. The ex-dividend date of this dividend was Friday, September 15th. Turkcell Iletisim Hizmetleri AS’s dividend payout ratio (DPR) is 96.36%.

Several institutional investors have recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. lifted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 0.8% during the second quarter. Wetherby Asset Management Inc. now owns 24,876 shares of the Wireless communications provider’s stock worth $204,000 after purchasing an additional 188 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 0.9% during the second quarter. Raymond James Trust N.A. now owns 22,845 shares of the Wireless communications provider’s stock worth $188,000 after purchasing an additional 201 shares during the period. World Asset Management Inc lifted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 1.5% during the first quarter. World Asset Management Inc now owns 54,833 shares of the Wireless communications provider’s stock worth $454,000 after purchasing an additional 821 shares during the period. Fox Run Management L.L.C. lifted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 5.2% during the second quarter. Fox Run Management L.L.C. now owns 18,300 shares of the Wireless communications provider’s stock worth $150,000 after purchasing an additional 900 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 2.0% during the first quarter. Comerica Bank now owns 52,412 shares of the Wireless communications provider’s stock worth $458,000 after purchasing an additional 1,033 shares during the period. 4.77% of the stock is owned by hedge funds and other 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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