The Australian share market is home to a good number of ASX dividend shares offering attractive dividend yields.
But which ones should you buy? Here's are two that analysts rate as buys right now:
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Accent Group Ltd (ASX: AX1)
The first beaten down ASX dividend share that has been named as a buy is footwear and apparel retailer Accent. The owner of retail brands such as Hype DC, The Athlete's Foot, Glue, Platypus, and Stylerunner has seen its shares lose 32% of their value in 2022.
Bell Potter is positive on the company and has just retained its buy rating with a $2.10 price target. The broker was pleased with Accent's trading update and has upgraded its revenue and earnings estimates for FY 2023 to reflects its strong start to the year and greater than expected store rollouts.
The broker also likes Accent due to its "exposure to a younger customer demographic in a tougher consumer spending environment."
As for dividends, it is forecasting fully franked dividends of 10 cents per share in FY 2023 and 12.5 cents per share in FY 2024. Based on the current Accent share price of $1.68, this will mean yields of 6% and 7.4%, respectively.
Elders Ltd (ASX: ELD)
Another beaten down ASX dividend share that has been rated as a buy is Elders. This leading agribusiness company's shares have sunk 17% year to date and 33% from their 2022-high.
The team at Goldman Sachs believes the Elders share price weakness has created a major buying opportunity. Earlier this week, the broker declared the share price decline as"unwarranted" and reiterated its conviction buy rating with a $18.40 price target.
Goldman believes that Elders "is very well positioned to grow through the cycle" thanks to drivers such as organic market share gains, margin expansion from the backward integration of Ag Chem, and bolt-on acquisitions.
In respect to dividends, the broker is forecasting dividends per share of 53 cents in FY 2023 and 57 cents in FY 2024. Based on the current Elders share price of $10.31, this implies attractive yields of 5.1% and 5.5%, respectively.
