These ASX Dividend Shares Are Good Buys Right Now, According to Analysts

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If you’re in the market for dividend shares, the two listed below could interest you. Analysts have recently recommended both as buys, and they’ve been predicted to provide high yields. Here’s what you should know:

Accent Group Ltd (ASX: AX1)

Accent, a shoe-focused retailer, is the first ASX dividend share that has been predicted to go up in price.

The company’s poor performance in FY22 was overshadowed by the strength of its brand portfolio and expansion strategy. These long-term factors give shareholders reasons to be optimistic about the future.

Optimistic analysts at Morgans have upgraded the company’s shares to an “add” rating in response to its full-year results, with a $2.00 price target. The broker commented:

“In our opinion, AX1’s recent refocus on selling items at their full price will help improve the gross profit margin in FY23 to return closer to its historical average. We’re pleased that AX1 decided to slow down the pace of its store rollout and focus on more profitable expansion strategies. We believe AX1 is trading at a discount to its intrinsic value.”

Brokers predict that the company will pay 9 cents per share in dividends for FY 2023 and 11 cents per share for 2024, both of which will be fully franked. With the current Accent share price being $1.53, this will result in 5.9% and 7.2%, respectively.


Charter Hall Social Infrastructure REIT (ASX: CQE)

Charter Hall Social Infrastructure REIT is an ASX dividend share recommended as a buy. The company invests in social infrastructure properties, including but not limited to: healthcare facilities, educational buildings, and childcare centres.

Earlier this month, it had another solid year in FY 2022, reporting an 8% increase in earnings per share. However, this is a touch short of Goldman Sachs’ expectations, but it hasn’t altered the broker’s bullish view of the firm’s prospects.

As a result, Goldman’s shares have retained their “buy” rating and $4.35 target price. The broker said,

“Although CQE’s result was not as great as we wanted it to be, they are still in a good place given the other positive aspects of the market and their strong balance sheet. This gives them space to take on new investment opportunities.”

The broker forecasts that, in addition to current earnings, dividends per share will total 17.3 cents in FY 2023 and 18 cents in 2024. Based on its current share price of $3.61, this will mean an income return of 4.8% and 5%, respectively, from dividends alone.

While there’s no guarantee that any investment will perform well, analysts identify these shares as good dividend buys. With high yields and solid long-term prospects, they could be worth considering if you’re on the hunt for ASX dividend shares.

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