Brokers name 2 top ASX dividend shares to buy

Happy man holding Australian dollar notes, representing dividends.

Happy man holding Australian dollar notes, representing dividends.

If you’re looking for ASX dividend shares to buy, then the two listed below could be worth considering.

Here’s what you need to know about these dividend shares:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is this footwear focused retailer.

Accent, which owns a growing collection of store brands such as Athlete’s Foot, HYPEDC, Platypus, Sneaker Lab, and Stylerunner, is having a tough time in FY 2022. This has led to its shares being hammered since the start of the year.

While this is disappointing, the team at Bell Potter appear to believe this could be a buying opportunity. They recently put a buy rating and $1.90 price target on the retailer’s shares. The broker commented:

We rate AX1 Buy with a PT of $1.90. AX1’s strategic focus has moved from acquisition and integration, to innovation in its core business and expansion through new concepts. AX1 has a leading omni-channel capability with TAF, Platypus, Skechers, Hype, The Trybe, Stylerunner and Glue Store as its key retail footwear or youth apparel platforms. Through a “high service & more tailored” market position, AX1 seeks to achieve greater differentiation vs peers as well as create perceived value across its retail platforms.

As for dividends, Bell Potter is forecasting fully franked dividends of 5.7 cents per share in FY 2022 and then 9 cents per share in FY 2023. Based on the current Accent share price of $1.33, this will mean yields of 4.3% and 6.8%, respectively.

QBE Insurance Group Ltd (ASX: QBE)

Another ASX dividend share that could be in the buy zone is QBE.

After a difficult period, this insurance giant’s outlook is starting to look very positive again, This is thanks to rising rates, premium increases, and its cost cutting plans.

Morgans is very positive on QBE and recently retained its add rating and $14.76 price target on the company’s shares. It commented:

With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on ~9.1x FY23F PE.

In respect to dividends, the broker is forecasting 41.6 cents per share in FY 2022 and 66.6 cents per share in FY 2023. Based on the current QBE share price of $11.76, this will mean yields of 3.5% and 5.7%, respectively.

The post Brokers name 2 top ASX dividend shares to buy appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of July 7 2022

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/cDvbHZh

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s