With so many ASX dividend stocks to choose from, it can be hard to decide which ones to buy. The good news is that brokers have been busy doing the hard work for you and have picked out three stocks they rate as buys. Here's what you need to know: ( ) The first ASX dividend stock that brokers have given the thumbs up to is Eagers Automotive.
It is one of the largest automotive retail groups in the Australia and New Zealand region. Its shares have been hammered in 2024 and are down 27% year to date. While this is disappointing, analysts at Bell Potter think that patient investors should be snapping them up while they are down.
The broker currently has a buy rating and $13.35 price target on its shares. This implies potential upside of 27% for investors over the next 12 months.
In addition, Bell Potter is forecasting fully franked dividends of 64.5 cents per share in FY 2024 and then 73 cents per share in FY 2025. Based on its current share price of $10.
52, this represents attractive yields of 6.1% and 6.9%, respectively.
( ) Over at Morgans, its analysts think that Inghams could be a top ASX dividend stock to buy. It is Australia's leading poultry producer and supplier. Much like Eagers Automotive, its shares have been underperforming in 2024 and are down 8% year to date.
Morgans thinks this has created a buying opportunity and has described Inghams' shares as "undervalued" at current levels. It has an add rating and $4.40 price target on its shares, which suggests that 22% up.
