Are you looking for more dividend shares to buy? If you are, you may want to check out the two listed below that have been rated as buys by brokers.
Here's what you need to know about these top ASX dividend shares:
Harvey Norman Holdings Limited (ASX: HVN)
The first ASX dividend share that has been tipped as a buy by brokers is Harvey Norman.
According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on the retail giant's shares to $4.80.
Its analysts believe the company is well-placed to defend its strong market position from online disruption thanks to its favourable customer demographics. It is partly for this reason that the broker is forecasting profits ahead of consensus estimates in FY 2023. It explained:
Despite a slowing macro and housing market dragging FY23/24E earnings, we believe this is sufficiently factored into consensus and is more defensive on competition due to its regional, premium boomer exposure and higher % of bulky items (not shipped by Amazon yet). Our FY23 NPAT is +7% vs FactSet consensus and our TP implied ex-property FY24E P/E of ~5x with dividend yield of 8%. We believe that HVN offers 21% TSR at an attractive valuation; reiterate buy
As for dividends, the broker is forecasting fully franked dividends per share of 38 cents in FY 2023 and 32 cents in FY 2024. Based on the current Harvey Norman share price of $4.23, this will mean yields of 9% and 7.5%, respectively.
Super Retail Group Ltd (ASX: SUL)
Another ASX dividend share that has been tipped as a buy is Super Retail.
According to a note out of Morgans, its analysts have recently retained their add rating with an improved price target of $13.00.
Morgans was pleased with Super Retail's full year results and believes that it should have a strong first half to FY 2023. This is expected to underpin another generous dividend payment for the full year. The broker commented:
SUL surprised the market by reporting much more resilient earnings in FY22 than had been forecast. EBIT of $397m was 15% higher than our estimate due to 4% higher sales and 110 bp higher margins.
With no signs yet that the consumer is pulling back in Australia, it looks likely that 1H23 earnings will be resilient, especially against lockdown-affected comps. We still model a 17% y/y decline in PBT in FY23, but we have pulled that number up by 6% after today's strong result.
Morgans is forecasting fully franked dividends per share of 56 cents in FY 2023 and 58 cents in FY 2024. Based on the latest Super Retail share price of $10.58, this will mean yields of 5.3% and 5.5%, respectively.
