Buy Endeavour and these ASX dividend stocks

Is your income portfolio in need of some new additions? If it is, then it could be worth checking out the ASX dividend stocks listed below.

Here’s why analysts have put buy ratings on them:

GDI Property Group Ltd (ASX: GDI)

The team at Bell Potter is tipping this property company’s shares as a buy.

The broker believes its shares are good value given its positive earnings outlook. Its analysts note that the company “offers a +10% 3yr EPS CAGR which is amongst the highest amongst [its] coverage.”

The broker expects this to underpin dividends per share of 5 cents in both FY 2024 and FY 2025. Based on the current GDI Property share price of 64 cents, this implies dividend yields of 7.8% in both years.

Bell Potter has a buy rating and 75 cents price target on its shares.

Endeavour Group Ltd (ASX: EDV)

Analysts at Goldman Sachs think that Endeavour is an ASX dividend stock to buy.

The broker is a big fan of the Dan Murphy’s owner due to its “attractive valuation.” In addition, it is anticipating “market share gain (already 40% market share) in defensive alcohol retail from consumer data and loyalty advantages.”

Goldman expects this to lead to fully franked dividends of 21 cents per share in FY 2024 and 23 cents per share in FY 2025. Based on the current Endeavour share price of $5.42, this would mean yields of 3.9% and 4.2%, respectively.

Its analysts have a buy rating and $6.40 price target on its shares.

Telstra Corporation Ltd (ASX: TLS)

Goldman Sachs is also a fan of telco giant Telstra.

It believes it is an ASX dividend stock to buy due to the “low risk earnings (and dividend) growth that Telstra is delivering across FY22-25.”

Speaking of dividend growth, the broker is forecasting fully franked dividends of 18 cents per share in FY 2024 and then 19 cents per share in FY 2025. Based on the current Telstra share price of $3.97, this equates to yields of 4.5% and 4.8%, respectively.

Goldman has a buy rating and $4.70 price target on the company’s shares.

The post Buy Endeavour and these ASX dividend stocks appeared first on The Motley Fool Australia.

(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

• Top ASX shares to buy in 2024 instead of investing in a term deposit
• Which had the better year in 2023: Telstra, Woodside or Wesfarmers shares?
• Lifetime income: 3 ASX dividend stocks I’m planning to never sell
• Goldman Sachs says these blue chip ASX 200 shares are top buys
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has positions in Endeavour Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra 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/mubfyTY