In times of market turbulence and uncertainty, many investors turn to dividend-yielding stocks as a safe haven. These stocks are often from companies that have high free cash flows and reward their shareholders with a high dividend payout. For investors looking for such stocks, it’s essential to consider the opinions of Wall Street analysts who have a track record of accuracy in their ratings.
Benzinga, a leading financial news and analysis platform, provides readers with the latest analyst takes on their favorite stocks through its Analyst Stock Ratings page. Traders can sort through Benzinga’s extensive database of analyst ratings and identify the most accurate analysts. Here, we will take a look at the most recent high-yield dividend stock ratings from the most accurate Wall Street analysts, according to Benzinga’s Analyst Stock Ratings.
One such high-yielding stock in the industrials sector is 3M Company (MMM). With a dividend yield of 6.54%, 3M Company has garnered attention from analysts. Analyst Andrew Kaplowitz from Citigroup, who has an accuracy rate of 85%, maintained a Neutral rating but cut the price target from $117 to $104 on January 24, 2024. Similarly, analyst Brett Linzey from Mizuho, with a 71% accuracy rate, maintained a Neutral rating and lowered the price target from $120 to $105 on the same day. It’s worth noting that 3M Company reported better-than-expected fourth-quarter earnings per share (EPS) but issued guidance for adjusted EPS below estimates for the full year of 2024.
Another high-yield dividend stock to consider is Copa Holdings, S.A. (CPA) in the industrials sector. With a dividend yield of 6.47%, Copa Holdings has attracted attention from analysts. Savanthi Syth from Raymond James, with a 67% accuracy rate, maintained a Strong Buy rating and raised the price target from $152 to $155 on November 17, 2023. Alexandre Falcao from HSBC, with a 71% accuracy rate, maintained a Buy rating but cut the price target from $143 to $138 on June 13, 2023. Copa Holdings recently reported better-than-expected fourth-quarter earnings.
Lastly, United Parcel Service, Inc. (UPS) in the industrials sector is another high-yield dividend stock worth considering. With a dividend yield of 4.52%, UPS has caught the attention of analysts. Thomas Wadewitz from UBS, with a 76% accuracy rate, upgraded the stock from Neutral to Buy and raised the price target from $160 to $175 on February 6, 2024. Patrick Tyler Brown from Raymond James, with an accuracy rate of 83%, maintained a Strong Buy rating but slashed the price target from $185 to $175 on January 31, 2024. United Parcel Service reported worse-than-expected fourth-quarter sales results and issued guidance for sales below estimates for the full year of 2024.
Dividend-yielding stocks can be an attractive option for investors seeking stability and income during market volatility. However, it’s important to conduct thorough research and consider the opinions of reliable analysts. By reviewing the latest analyst ratings on Benzinga’s Analyst Stock Ratings page, investors can make more informed decisions about high-yield dividend stocks in the market.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as investment advice. All investments involve risks, and individuals should consult with a financial advisor before making any investment decisions.
