Friday, July 18, 2008

TKC Could be Forming a Base

Turkcell Ilet (TKC) has been losing ground since its highs of late November '07. After a sizeable drop in value, the stock may be hovering around a short-term support at 15.

Turkcell Iletisim Hizmetleri A.S. engages in establishing and operating Global System for Mobile Communications network in Turkey. The company provides mobile telecommunication services, including mobile voice and data services over its GSM network. Its voice services include wireless telephone services on a prepaid and postpaid basis.

Few of the attractive signs are:

  • Volume at approximately 1.35 million average shares/day
  • P/E is less than 9
  • A dividend of 3.8% (paid yearly)
  • Current price at 47% below the 52 week high
  • Fund ownership has been increasing during the past 4 quarters
  • Earnings have risen consistently since '01

Trading today at 15.85, I would consider TKC a buy candidate at around these levels.


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