Analysts say these 3 ASX dividend stocks are buys with big yields

There are a large number of ASX dividend stocks to choose from on the Australian share market.

But which ones could be buys right now?

Three that have been given the thumbs up by brokers are listed below. Here’s what they are forecasting from them:

Baby Bunting Group Ltd (ASX: BBN)

The first ASX dividend stock that could be a buy for income investors is baby products retailer Baby Bunting.

The team at Morgans is feeling upbeat about the company’s outlook after a couple of years of struggles. In fact, it sees a return to growth on the horizon.

For example, it is forecasting fully franked dividends per share of 9.5 cents in FY 2024 and then 12.4 cents in FY 2025. Based on the current Baby Bunting share price of $1.82, this will mean dividend yields of 5.2% and 6.8%, respectively.

Morgans has an add rating and $2.50 price target on its shares.

Centuria Industrial REIT (ASX: CIP)

Another ASX dividend stock that has been given the thumbs up by analysts is Centuria Industrial.

It is largest domestic pure play industrial REIT with a 91% weighting to Australia’s high performing eastern seaboard industrial markets.

Macquarie is a fan of the company and is forecasting a result slightly ahead of guidance in FY 2024.

It expects this to underpin dividends per share of 16 cents in FY 2024 and 16.5 cents in FY 2025. Based on the current Centuria Industrial share price of $3.09, this represents yields of 5.2% and 5.3%, respectively.

The broker has an outperform rating and $3.41 price target on its shares.

Orora Ltd (ASX: ORA)

Finally, Goldman Sachs think this packaging company would be a good ASX dividend stock to buy.

The broker likes that Orora’s base business has defensive qualities and is positive on growth capital investments. In addition, it feels the current market implied valuation of the Saverglass business provides a favourable risk-reward skew.

As for income, its analysts are forecasting dividends per share of 14 cents in FY 2024, 15 cents in FY 2025, and 16 cents in FY 2026. Based on the current Orora share price of $2.63, this will mean yields of 5.3%, 5.7%, and 6.1%, respectively.

Goldman has a buy rating and $3.50 price target on its shares.

The post Analysts say these 3 ASX dividend stocks are buys with big yields appeared first on The Motley Fool Australia.

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• Where I’d invest $3,000 into ASX dividend shares in January

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 and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Orora. 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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