Morgans says these ASX dividend shares are buys

Are you looking for ASX dividend shares to buy? If you are, it could be worth considering the two in this article.

That’s because Morgans has just rated them as buys and is forecasting attractive dividend yields. Here’s what the broker is recommending to clients:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that could be a buy according to Morgans is footwear retailer Accent Group.

While it has been a tough period for the company, Morgans thinks its shares have been oversold, creating an opportunity for investors.

It has put a buy rating and 75 cents price target on its shares. It said:

AX1 has provided a soft trading update for 2H26, revising guidance lower and disclosed an ASIC insider trading investigation. The trading update for AX1 has materially softened since the update in February, with the escalations in the Middle East resulting in higher fuel prices and lower consumer confidence which in turn has impacted sales and margins. 2H26 EBIT guidance has been lowered to $23-28m (from $30-35m). We have lowered our EBIT by 9%/6% respectively in FY26/27.

Our valuation lowers to $1.00, which we apply a 25% discount to derive a target price of $0.75. This reflects the weakening consumer backdrop, as well as overhang from ASIC investigation. We maintain our BUY recommendation.

With respect to income, the broker is forecasting fully franked dividends per share of 3.8 cents in FY 2026 and then 4.9 cents in FY 2027. Based on its current share price of 55 cents, this equates to 6.9% and 8.9% dividend yields, respectively.

Pinnacle Investment Management Group Ltd (ASX: PNI)

Another ASX dividend share that Morgans is positive on is Pinnacle Investment Management.

Morgans responded positively to this investment management company’s quarterly update and has retained its buy rating with an improved price target of $24.70.

Commenting on the company, the broker said:

PNI has released its 3Q26 update. The key highlight of the update was 3Q26 flows coming in stronger than expected amid a volatile environment, with PNI’s additional 6.8% investment in Metrics acting as a further vote of confidence in the business. We make mild upgrades to PNI’s FY26F/FY27F/FY28F EPS of ~1%-3%, driven by higher net flow forecasts and the earnings contribution from the increased Metrics stake. Our PT edges up to A$24.70 (from A$23.21) and we maintain our BUY call.

As for income, Morgans is forecasting fully franked dividends of 64 cents per share in FY 2026 and then 81 cents per share in FY 2027.

Based on its current share price of $16.41, this equates to dividend yields of 3.9% and 4.9%, respectively.

The post Morgans says these ASX dividend shares are buys appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
• CSL and Wesfarmers among scores of ASX shares hitting fresh 52-week lows
• Pinnacle Investment Management increases Metrics Credit stake in $100.5 million deal
• Here are the top 10 ASX 200 shares today
• Why Accent shares just crashed to a 13-year low

Motley Fool contributor James Mickleboro has positions in Accent Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group. 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.