Analysts are tipping these ASX dividend shares as buys

Income investors might want to check out these buy-rated shares.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you looking for ASX dividend shares to buy this week?

If you are, it could be worth checking out the three listed below that are from very different sides of the market.

Here's why analysts are tipping these as buys for income investors:

A senior investor wearing glasses sits at his desk and works on his ASX shares portfolio on his laptop.

Image source: Getty Images

ANZ Group Holdings Ltd (ASX: ANZ)

ANZ could be an ASX dividend share to buy according to analysts at Goldman Sachs.

The broker currently has a buy rating and a $26.66 price target on the banking giant's shares.

As for dividends, Goldman is forecasting fully franked dividends per share of $1.62 in both FY 2024 and FY 2025. Based on the current ANZ share price of $24.40, this will mean dividend yields of 6.6% in both years.

Coles Group Ltd (ASX: COL)

Another ASX dividend share that analysts have named as a buy is supermarket giant Coles.

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

In respect to 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 $15.27, this will mean yields of 4.2% and 4.6%, respectively.

HomeCo Daily Needs REIT (ASX: HDN)

A final ASX dividend share that could be a buy is HomeCo Daily Needs. As its name implies, this property company has a focus on daily needs assets. These include neighbourhood retail, large format retail, and health and services.

Morgans is positive on the company and has an add rating and a $1.39 price target on its shares.

The broker is also expecting some big dividend yields in the coming years. It is forecasting dividends per share of 8.3 cents in FY 2024 and then 8.5 cents in FY 2025. Based on the current HomeCo Daily Needs share price of $1.11, this will mean yields of 7.5% and 7.7%, respectively.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 positions in and has recommended Coles Group. The Motley Fool Australia has recommended HomeCo Daily Needs REIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A retiree relaxing in the pool and giving a thumbs up.
Dividend Investing

Looking for long-term passive income? Try one of these ASX shares

These businesses are on track to provide investors with ultra-long-term income.

Read more »

A man in a business suit stands on top of an office chair in a sea of murky water with shark fins circling.
Dividend Investing

Thinking of buying WAM Capital shares for the 9% dividend yield? Read this first

Look before you leap into this dividend stock.

Read more »

Person with a handful of Australian dollar notes, symbolising dividends.
Dividend Investing

1 ASX dividend share and 1 ASX growth stock to buy in April

These ASX shares deliver a one-two punch: income now, growth later.

Read more »

Hand holding Australian dollar (AUD) bills, symbolising ex dividend day. Passive income.
Dividend Investing

2 ASX shares with dividend yields above 8%

These high-yield ASX dividend shares have a lot to like.

Read more »

Person with a handful of Australian dollar notes, symbolising dividends.
Dividend Investing

Why now could be the perfect time to buy ASX dividend stocks

Regardless of what point of the economic cycle we're in, ASX dividend stocks are a long-term play.

Read more »

Person handing out $100 notes, symbolising ex-dividend date.
Dividend Investing

This is the ASX 300 share offering a 9% dividend yield!

There’s a lot to like about this business for dividends and growth.

Read more »

A group of people gathered around a laptop computer with various expressions of interest, concern and surprise on their faces as they review the payouts from ASX dividend stocks. All are wearing glasses.
Dividend Investing

Is it time to load up on these high-yielding ASX dividend shares?

Tumbling share prices have pushed the yields up to 9%.

Read more »

Person with a handful of Australian dollar notes, symbolising dividends.
Dividend Investing

3 must-own ASX dividend shares which belong in every portfolio

If you want long-term passive income you need to consider these three ASX dividend shares.

Read more »