Do you have space for some more ASX dividend stocks in your income portfolio? Â If you do, then it could be worth looking at the three names in this article.
That’s because analysts think they are in the buy zone and could provide investors with attractive dividend yields. Â Here’s what they are forecasting from them:
IPH Ltd (ASX: IPH)
IPH could be a great ASX dividend stock to buy this month. It is an intellectual property solutions company with operations across the world.
Goldman Sachs is a fan of the company. This is partly due to its belief that IPH is “well-placed to deliver consistent and defensive earnings with modest overall organic growth.” This is exactly what you want from a dividend stock.
Goldman is forecasting fully franked dividends per share of 34 cents in FY 2024 and then 37 cents in FY 2025. Based on the current IPH share price of $6.25, this represents yields of 5.4% and 5.9%, respectively.
Goldman has a buy rating and $8.70 price target on IPH’s shares.
QBE Insurance Group Ltd (ASX: QBE)
Analysts at Goldman Sachs are also feeling positive about this insurance giant and think it could be an ASX dividend stock for income investors to buy.
It likes the company because it “has the strongest exposure to the commercial rate cycle” and that its “North America [business is] on a pathway to improved profitability.”
Goldman expects this to underpin dividends per share of 60 US cents (89.5 Australian cents) in FY 2024 and 63 US cents (93.9 Australian cents) in FY 2025. Based on the current QBE share price of $16.82, this equates to dividend yields of 5.3% and 5.6%, respectively.
Goldman has a buy rating and $20.60 price target on its shares.
SRG Global Ltd (ASX: SRG)
Finally, analysts at Bell Potter rate SRG Global as an ASX dividend stock to buy right now. It is a diversified industrial services group that provides multidisciplinary construction, maintenance, production drilling and geotechnical services.
It highlights that the company’s “short-to-medium term outlook is reinforced by Government-stimulated construction activity.”
Bell Potter is forecasting SRG Global to pay shareholders fully franked dividends of 4.7 cents in FY 2024 and then 6.7 cents in FY 2025. Based on its current share price of 87 cents, this will mean dividend yields of 5.4% and 7.7%, respectively.
The broker has a buy rating and $1.30 price target on its shares.
The post 3 strong ASX dividend stocks for income investors to buy appeared first on The Motley Fool Australia.
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More reading
- 3 ASX dividend shares to buy with 5%+ yields
- 3 ASX income shares to buy this month
- 2 ASX penny stocks that pay dividends
- Analysts name 3 ASX income stocks to buy now
- Bell Potter says these ASX dividend shares are top buys this month
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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended IPH and Srg Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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