Turkcell Iletisim Hizmetleri AS to Issue Special Dividend of $0.32 (NYSE:TKC)

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) declared a special dividend on Friday, July 7th, Wall Street Journal reports. Shareholders of record on Monday, September 18th will be paid a dividend of 0.3213 per share by the Wireless communications provider on Monday, September 25th. The ex-dividend date of this dividend is Friday, September 15th.

Turkcell Iletisim Hizmetleri AS has a payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Turkcell Iletisim Hizmetleri AS to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 31.6%.

Turkcell Iletisim Hizmetleri AS (NYSE TKC) opened at 8.04 on Monday. Turkcell Iletisim Hizmetleri AS has a one year low of $6.35 and a one year high of $9.89. The firm’s 50-day moving average is $8.32 and its 200 day moving average is $7.91. The stock’s market cap is $7.02 billion.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last issued its quarterly earnings data on Wednesday, April 26th. The Wireless communications provider reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $1.10 billion for the quarter. Turkcell Iletisim Hizmetleri AS had a net margin of 11.07% and a return on equity of 16.09%. On average, analysts anticipate that Turkcell Iletisim Hizmetleri AS will post $0.66 EPS for the current fiscal year.

TKC has been the topic of a number of analyst reports. VTB Capital raised shares of Turkcell Iletisim Hizmetleri AS from a “hold” rating to a “buy” rating in a research note on Friday, May 5th. Zacks Investment Research cut shares of Turkcell Iletisim Hizmetleri AS from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. Berenberg Bank initiated coverage on shares of Turkcell Iletisim Hizmetleri AS in a research note on Tuesday, May 9th. They set a “hold” rating on the stock. Finally, ValuEngine cut shares of Turkcell Iletisim Hizmetleri AS from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.50.

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About Turkcell Iletisim Hizmetleri AS

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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