There are a large number of shares on the Australian share market that could be great candidates for income investors.
But which ones do analysts believe you should be buying now? Let's take a look at three that they are feeling bullish on:
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Collins Foods Ltd (ASX: CKF)
This KFC operator's shares could be worth considering for patient income investors. They may not offer the biggest yield at present, but that could change in the future thanks to its bold expansion plans in Australia and Europe.
Morgans is a fan of the company and has an add rating and a $12.40 price target on its shares.
As for dividends, it is forecasting fully franked dividends of 29 cents per share in FY 2024 and 34 cents per share in FY 2025. Based on the current Collins Foods share price, this implies yields of 2.5% and 2.9%, respectively.
Orora Ltd (ASX: ORA)
This packaging company could be an ASX dividend share to buy right now. That's the view of analysts at Goldman Sachs, which believe it is well-positioned to pay generous dividends in the coming years.
In fact, it is forecasting 13 cents per share dividends for FY 2024, FY 2025, and FY 2026. Based on the current Orora share price of $2.60, this will mean 5% yields for each year.
Goldman also sees significant upside for the packaging company's shares. It has a buy rating and a $3.55 price target, which implies a potential upside of almost 37%.
Premier Investments Limited (ASX: PMV)
A final ASX dividend share to look at is Premier Investments. It is the retail giant that owns a collection of brands such as Just Jeans, Peter Alexander, and Smiggle.
Morgan Stanley likes Premier Investments and has an overweight rating and a $32 price target on its shares.
As for income, the broker is expecting fully franked dividends per share of $1.01 in FY 2024 and $1.06 in FY 2025. Based on the latest Premier Investments share price of $27.24, this equates to yields of 3.7% and 3.9%, respectively.
