There are plenty of ASX dividend stocks to choose from on the Australian share market.

Three that brokers believe are buys are listed below. Here’s what you need to know about them:

Coles Group Ltd (ASX: COL)

The first ASX dividend stock that could be a buy according to brokers is supermarket giant Coles.

Citi is bullish on Coles and has a buy rating and a $17.50 price target on its shares.

As for dividends, the broker is forecasting fully franked dividends of 64 cents per share in FY 2024 and 70 cents per share in FY 2025. Based on the current Coles share price of $16.09, this will mean dividend yields of 4% and 4.35%, respectively.

Dexus Convenience Retail REIT (ASX: DXC)

Another ASX dividend stock that could be a buy is this convenience focused property company.

Bell Potter is a fan of the company and has a buy rating and $2.85 price target on its shares. It believes the company “offers one of the most attractive risk-adjusted propositions in the sector.”

It also expects some big dividend yields. The broker is forecasting dividends per share of 20.9 cents in FY 2024 and 20.5 cents in FY 2025. Based on its current share price of $2.66 this equates to yields of 7.85% and 7.7%, respectively.

Universal Store Holdings Ltd (ASX: UNI)

Finally, Morgans thinks that this youth fashion retailer could be an ASX dividend stock to buy right now.

The broker currently has an add rating and $4.55 price target on its shares.

As for income, Morgans is forecasting fully franked dividends per share of 26 cents in FY 2024 and 29 cents in FY 2025. Based on the current Universal Store share price of $4.12, this will mean yields of 6.3% and 7%, respectively.

The post Brokers say these ASX dividend stocks are buys appeared first on The Motley Fool Australia.

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• Morgans says these ASX dividend shares are buys this month
• Got $15,000? How I’d invest for a bulletproof ASX passive-income portfolio
• Buying ASX retail shares? You’ll want to see these numbers
• Get a big income boost from these high-yield ASX dividend stocks
• Can Coles shares go from loser to winner in 2024?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Universal Store. 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 positions in and has recommended Coles Group. 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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Owners of Rio Tinto Ltd (ASX: RIO) shares have been getting juicy dividends for a number of years, thanks to the huge demand for commodities from China.

Its biggest earnings contributor is iron ore, but it also deals with a number of other commodities such as copper, aluminium and a few more.

How big could the Rio Tinto dividends be in 2024 and beyond?

There could be another big annual dividend from the company in 2024, thanks to the strength of the iron ore price.

At the moment, the forecast on Commsec suggests Rio Tinto could pay an annual dividend per share of $7.60. That’s a cash dividend yield of 5.75%, or 8.2% when grossed up.

According to Trading Economics, the iron ore price is sitting at around US$130 per tonne, which is a good price for the ASX mining share to make plenty of profit.

Trading Economics noted there had been further economic support from the Chinese government, with the People’s Bank of China saying that it would reduce its reserve requirement ratio, “adding liquidity to the financial system and supporting manufacturing and construction activity”.

The strong iron ore price comes despite new home prices in China reportedly dropping in December at the fastest pace since 2015.

Trading Economics also said that the iron ore price was supported by hot rolled coil and stainless steel inventories at major Chinese warehouses edging lower in the third week of January, which pointed to “some bidding activity for ferrous metals.”

The iron ore price is hard to predict a few months into the future, let alone years ahead. But, analysts have given it a shot at forecasting what the dividends might be.

On Commsec, the forecast is that Rio Tinto could pay an annual dividend per share of $7.36 in 2024. This would translate into a cash yield of 5.6% and a grossed-up dividend yield of 8%.

Is now a good time to invest?

Rio Tinto is one of the world’s leading miners. As such, it’s very good at what it does. I like the diversification that it offers with different commodities.

I’m particularly excited by the company’s moves to gain exposure to copper, which is an important commodity for the decarbonisation and electrification of the world.

I also like the company’s planned expansion into African iron ore mining with its involvement in the Simandou project.

There’s a lot to like about the future. However, I’m cautious about investing in Rio Tinto shares right now because of the strength of both the iron ore price and the Rio Tinto share price.

To beat the market over the long-term, I’d prefer to invest when the sentiment about iron ore is weak and the iron ore price is much closer to US$100 per tonne, if not below. So, I’d be patient on the ASX mining share, for now.

The post Could Rio Tinto shares be a gold mine for dividends in 2024 and beyond? appeared first on The Motley Fool Australia.

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• BHP stock and more: 3 ASX commodity titans to watch in 2024
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• Buy Rio Tinto and these ASX dividend stocks
• Rio Tinto share price marching higher amid record Aussie solar power agreement
• ASX 200 mining stocks underperforming as Andrew Forrest shutters WA nickel mines

Motley Fool contributor Tristan Harrison 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 no position in any of the stocks mentioned. 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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If history repeats itself, tomorrow could mark the beginning of a big year for S&P/ASX 200 Index (ASX: XJO) shares.

Investors will be carefully watching the Reserve Bank of Australia (RBA) tomorrow. That’s when the central bank announces its next interest rate decision.

Now the odds of an RBA rate cut tomorrow have fallen to virtually zero.

But even a dovish shift in language could be enough to boost ASX 200 investor sentiment.

And while it may not happen tomorrow, most analysts are still expecting several rate cuts from the central bank before the end of the year.

Commonwealth Bank of Australia (ASX: CBA) economist Gareth Aird isn’t forecasting a cut tomorrow. However, he said (quoted by The Australian Financial Review), “”We continue to expect an easing cycle commencing in September.”

CBA forecasts the RBA will cut rates by 0.75% over the final months of 2024 and another 0.75% in the first half of 2025. That would see the official cash rate back down at 2.85% from the current 4.35%.

Here’s what history tells us happens when the RBA begins to ease off on interest rates.

ASX 200 and the RBA’s historic rate cycle

In early September 2008, Australia’s official interest rate stood at 7.25%.

The ASX 200, and shares across the world, had been plunging for the better part of a year in the midst of the GFC.

September 2008 saw the first of a rapid series of rate cuts from the RBA. With a final cut of 0.25% on 8 April 2009, the cash rate was slashed to 3.00%.

Although there was as significant lag involved before the ASX 200 bottomed in March 2009, the benchmark index then soared more than 50% before the next tightening cycle commenced on 7 October 2009.

That tightening cycle ran through 1 November 2011, when the official cash rate stood at 4.75%.

During the course of that increasing rate cycle, from October 2009 through to November 2011, the ASX 200 lost 12%.

November 2011 then saw the RBA cut rates by 0.25% in an easing cycle that would last all the way until May 2022, when the central bank raised rates from the rock bottom, post pandemic low of 0.10%.

From November 2011 through to May 2022, during this decade-plus of ever lower interest rates, the ASX 200 gained more than 72%.

Which is why if history repeats tomorrow (or on a Tuesday when the RBA reports later on this year) could mark the beginning of a lengthy run higher for the Aussie share market.

The post If history repeats itself, tomorrow’s RBA decision could mark the start of a big year for the ASX 200 appeared first on The Motley Fool Australia.

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• Hoping to bag the ResMed dividend? You better be quick!
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• ASX shares could rocket on Tuesday. Here’s why

Motley Fool contributor Bernd Struben 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 no position in any of the stocks mentioned. 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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It won’t be long before the next Resmed CDI (ASX: RMD) dividend is on its way to shareholders. If investors want to gain access to the payout, they’ll need to be quick because it’s nearly deadline day!

The ex-dividend date is one of the most important dates when it comes to dividend investing. Investors need to own shares before the ex-dividend date to gain entitlement to the upcoming payment. If investors buy on the ex-dividend date (or afterwards), they’ll miss out.

Resmed ex-dividend date

The ex-dividend date for the imminent quarterly payment is on Wednesday, 7 February. That means, to ensure entitlement to this upcoming dividend, investors will need to own Resmed shares by the end of trading tomorrow, 6 February.

The ASX healthcare share is planning to pay this dividend of US 4.8 cents per share on 14 March 2024.

At the current foreign exchange rate, that would translate into a payment of AU 7.3 cents per share. Resmed will provide further details about the size of the dividend in Australian dollar terms on Friday, 9 February.

Profitability performance

Resmed recently announced its FY24 second quarter performance for the three months to 31 December 2023.

It reported that revenue increased by 12% to $1.2 billion, the underlying gross profit margin improved 10 basis points to 56.9%, the underlying (non-GAAP) operating profit improved 20%, and it made an operating cash flow of $272.8 million.

You can read more about that update from our coverage of the quarter.

Management said strong growth in patient flow over the past several quarters had “supported ongoing device growth” and added to replenishment programs for “sustained mask and accessories growth”. It was also launching its latest generation platform, AirSense 11, into new markets and geographies.

Resmed share price snapshot

The Resmed share price has fallen more than 8% over the past year.

The post Hoping to bag the ResMed dividend? You better be quick! appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison 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 ResMed. The Motley Fool Australia has positions in and has recommended ResMed. 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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When you see an ASX stock that’s lost 94% since its glory days, what are your thoughts?

You might think that something has gone horribly wrong, which is probably correct.

But if you think such a dramatic decline means it has no chance of making you money, then you would be wrong.

Shares don’t care about the past. Only the future performance of the business and the demand for stocks from investors matters.

Along these lines, a pair of much-maligned ASX shares have started 2024 with massive increases in their valuations.

And the analysts at QVG Capital reckon there’s more where that came from:

Beating earnings expectations

The fall of Zip Co Ltd (ASX: ZIP) has been breathtaking.

The share price has tumbled 94% from February 2021, as the market turned away from “buy now, pay later” providers, then growth stocks.

However, recent months have shown signs of life.

The Zip share price, believe it or not, has rocketed more than 148% since the start of November.

The latest boost, according to the QVG team, came in January.

“Zip reported their December quarter result which showed that earnings expectations of $6 million were too low as they produced $30 million of earnings in the first half alone,” read its memo to clients. 

“They now have a repaired balance sheet and improved margin profile, substantially de-risking the business.”

Brilliant ‘turnaround story’ for this ASX stock

Shares for payments technology provider EML Payments Ltd (ASX: EML) have suffered a similar journey to Zip.

They have fallen more than 85% since its April 2021 peak, as a series of regulatory and governance scandals hit the business.

But since 30 March the stock has returned a whopping 102%.

QVG analysts, who are fans of this “turnaround story”, noted EML also provided an upbeat update in January.

“We were attracted to EML early last year when we noticed significant board and management change,” read their memo.

“Sensible, reputable people tend to make equally sensible decisions and this month they announced the closure of a business division that was burning significant cash.”

The momentum is now positive for the ASX stock, the QVG team feels.

“We’re expecting further earnings and balance sheet improvements, potentially via a divestment.”

The post Up 150% in 3 months: It’s not too late to buy these 2 rebounding ASX stocks appeared first on The Motley Fool Australia.

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• Zip share price surges 7% on quarterly cash flow report
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• Zip shares rocket 17% on ‘outstanding’ quarter

Motley Fool contributor Tony Yoo 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 EML Payments and Zip Co. The Motley Fool Australia has no position in any of the stocks mentioned. 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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If you’re looking for some big returns, then it could be worth checking out the ASX growth shares listed below.

That’s because they have been named as buys and tipped to rise 20% or greater.

Here’s what analysts are saying about these buy-rated shares:

Flight Centre Travel Group Ltd (ASX: FLT)

The first ASX growth share that has been named as a buy is travel agent giant Flight Centre.

The team at Morgans is positive on the company, noting that “with confidence that the travel recovery has much further to go and the benefits of FLT’s transformed business model emerging, we think the company is well placed over coming years.”

The broker has an add rating and $26.00 price target on its shares. This implies 20% upside for investors from current levels.

IDP Education Ltd (ASX: IEL)

Over at Bell Potter, its analysts see this beaten down language testing and student placement company’s shares as a top option right now.

The broker likes IDP Education due to structural growth tailwinds. And while its shares have a premium valuation, its analysts “believe this is justified given its dominant market position, potential for M&A and successful track record.”

Bell Potter has a buy rating and $27.00 price target on its shares. This suggests 40% upside for investors over the next 12 months.

Life360 Inc (ASX: 360)

A final ASX growth share that could be in the buy zone is Life360. It is the location technology company behind the popular Life360 app, which has almost 60 million monthly active users.

Goldman Sachs remains very bullish on the company’s outlook thanks partly to its “US$12bn global TAM with a large opportunity to expand its product suite.”

Goldman currently has a buy rating and $10.50 price target on the company’s shares. This represents 37% upside for investors from current levels.

The post Buy these ASX growth shares for 20% to 40% returns appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Idp Education, and Life360. The Motley Fool Australia has recommended Flight Centre Travel Group and Idp Education. 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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At the start of each week, I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Pilbara Minerals Ltd (ASX: PLS) remains the most shorted ASX share despite its short interest easing a touch to 20.5%. Short sellers have been targeting the lithium miner due to weak battery materials prices.
• Syrah Resources Ltd (ASX: SYR) has short interest of 17%, which is up week on week again. Concerns over weak graphite prices is weighing on its shares.
• Core Lithium Ltd (ASX: CXO) has short interest of 12.9%, which is up slightly week on week. This lithium miner recently announced plans to suspend production to conserve cash.
• Sayona Mining Ltd (ASX: SYA) has 11.5% of its shares held short, which is up week on week again. This lithium miner’s latest update revealed that its costs were significantly higher than the price it was receiving for its product.
• IDP Education Ltd (ASX: IEL) has 10.4% of its shares held short, which is up week on week. Short sellers have been targeting this language testing and student placement company’s shares following student visa changes and the loss of its monopoly in Canada.
• Genesis Minerals Ltd (ASX: GMD) has seen its short interest rise to 9.1%. This may be due to integration risks from recent acquisitions.
• Deep Yellow Limited (ASX: DYL) has seen its short interest rise to 8.9%. Short sellers will have been disappointed to see the company’s shares rocket 25% last week amid concerns over uranium shortages.
• Weebit Nano Ltd (ASX: WBT) has short interest of 8.6%, which is up week on week again. Last week, this semiconductor company reported quarterly revenue of less than $0.5 million. It has a market capitalisation of almost $700 million.
• Flight Centre Travel Group Ltd (ASX: FLT) has 8.4% of its shares held short, which is flat week on week. Short sellers seem to believe the market’s growth and revenue margin assumptions are too ambitious.
• Chalice Mining Ltd (ASX: CHN) has short interest of 7.2%, which is up week on week. Short sellers continue to target this mineral exploration company’s shares even after they have crashed 85% over the last 12 months.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

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• If you’d invested $20,000 in Pilbara Minerals shares in 2020, this is how much you’d have today
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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 Idp Education. The Motley Fool Australia has recommended Flight Centre Travel Group and Idp Education. 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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ASX shares could get a nice boost this week as the Reserve Bank of Australia board meets on Tuesday.

The big question is whether inflation has calmed sufficiently that interest rates no longer have to be moved up.

Have Australian consumers and businesses copped enough pain after 13 rate hikes over the past two years?

According to a survey conducted by comparison site Finder, all 27 economic experts are tipping the central bank will keep on hold.

REA Group Ltd (ASX: REA) economic research director Cameron Kusher said there “seems to be no hard evidence to point to that suggests the RBA will lift rates”.

“Inflation has come in well below the RBAs forecast, retail sales have slowed and the unemployment rate has lifted and job creation has stalled.”

A pause in rates could raise consumer and business confidence, which in turn could be bullish for stock markets.

When are interest rate cuts coming?

The next question for investors and consumers alike is whether interest rates will actually come down soon.

On this, the experts are more divided.

Ten of the 27 economists believe the first cut will come in the second half of this year, while another 10 are tipping it won’t arrive until next year or beyond.

Two of them even think the RBA hasn’t even finished raising its cash rate.

There are two stumbling blocks for rate relief: the federal government’s adjustments to the stage 3 tax cuts, and still-persistent inflation.

Corinna Economic Advisory economist Saul Eslake believes the RBA will not be cutting rates at all this year.

“The tax cuts due on 1 July are equivalent in terms of their impact on household cash flows to two 25 basis point rate cuts, albeit that their distributional impact is very different.”

University of Sydney associate professor Mark Melatos also warns against expectations that mortgage repayments would come down anytime soon.

“Inflation remains above the RBA’s target band, despite moderating in recent months. 

“As long as low unemployment — effectively full employment — persists, the cash rate is unlikely to be reduced and further increases remain a possibility.”

Bendigo and Adelaide Bank Ltd (ASX: BEN) chief economist David Robertson is slightly more optimistic.

“The next move will most likely be a cut around year end,” he said.

“Earlier cuts are possible if services inflation improves, but that will take time.”

The post ASX shares could rocket on Tuesday. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo 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 REA Group. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank. The Motley Fool Australia has recommended REA Group. 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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Are you wanting to boost your income portfolio with some new additions? If you are, then it could be worth looking at the two ASX dividend shares listed below that have been named as buys.

Here’s what analysts are saying about these shares:

ANZ Group Holdings Ltd (ASX: ANZ)

The first ASX dividend share for investors to look at buying is banking giant ANZ.

That’s the view of analysts at Goldman Sachs, which believe ANZ shares would be a top option right now thanks to the strength and improving profitability of its key institutional business.

Goldman expects this to support the payment of fully franked dividends per share of $1.62 in both FY 2024 and FY 2025. Based on the current ANZ share price of $27.26, this will mean dividend yields of 5.9%.

The broker currently has a buy rating and $27.85 price target on its shares.

Deterra Royalties Ltd (ASX: DRR)

Over at Morgan Stanley, its analysts believes that Deterra Royalties could be an ASX dividend share to buy right now.

Deterra Royalties operates a mining royalty business across a range of commodities, but with a primary focus on bulks, base metals, and battery metals. This includes the world class Mining Area C iron ore operation, which is co-owned with mining behemoth BHP Group Ltd (ASX: BHP).

Morgan Stanley is expecting some big dividend yields from Deterra Royalties shares in the near term. It is forecasting fully franked dividends of 40.3 cents per share in FY 2024 and then 30.1 cents per share in FY 2025. Based on the current Deterra Royalties share price of $5.41, this will mean yields of 7.5% and 5.5%, respectively.

The broker currently has an overweight rating and $5.65 price target on the company’s shares.

The post Buy ANZ and this ASX dividend share appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. 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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On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week with a stunning gain. The benchmark index rose 1.5% to 7,699.4 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to fall

A tough session is expected for the Australian share market on Monday despite a strong finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 54 points or 0.7% lower this morning. On Friday on Wall Street, the Dow Jones was up 0.35%, the S&P 500 rose 1.1%, and the Nasdaq jumped 1.75%.

Oil prices drop

It could be a poor start to the week for ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price was down 2.1% to US$72.28 a barrel and the Brent crude oil price was down 1.75% to US$77.33 a barrel. Strong U.S. jobs data reduced the odds of imminent interest rate cuts, which traders think could dampen crude oil demand.

Lynas linked with mega merger

Lynas Rare Earths Ltd (ASX: LYC) shares will be on watch today amid news that the rare earths producer has been in merger talks with New York listed Mp Materials Corp (NYSE: MP). According to the AFR, the two largest rare earths producers outside China have been talking but are not currently. Though, Lynas reportedly said that it is not ruling out a deal in the future.

Gold price falls

It is looking like it could be a poor start to the week for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price fell on Friday. According to CNBC, the spot gold price was down 0.8% to US$2,053.7 an ounce. The gold price dropped after the US dollar and bond yields rose following strong US jobs data.

Metcash capital raising

Metcash Limited (ASX: MTS) is widely expected to announce a capital raising this morning to fund the acquisition of Superior Food Group. According to the AFR, the wholesaler is looking to raise $300 million. Sources says that Metcash will be paying in the range of $390 million and $412 million for the food services distribution business.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended MP Materials. The Motley Fool Australia has recommended Metcash. 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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