Goodman Group (ASX: GMG) shares have been out of form this year.

So much so, on a 12-month basis, the industrial property giant’s shares have lost around 20% of their value.

But with Goodman’s FY 2026 results out of the way, is now a good time to buy its shares? Let’s see what the team at Bell Potter is saying.

What is Bell Potter saying?

Bell Potter notes that Goodman delivered a result in line with expectations for FY 2026. It commented:

GMG announced its FY26 result with operating EPS of 129.9c (+10% y/y growth) in line with BPe and VA consensus, c.1% above full year guidance. FY27 operating EPS guidance established at +9% growth y/y which implies 141.6c (BPe 141.2c (+9% y/y), VA consensus 143.7c (+11% y/y)), with DPS guidance of 30.0c maintained (in line with BPe, VA consensus for 30.4c).

The broker also highlights that Goodman’s development work in progress (WIP) has increased materially. It adds:

Development WIP has increased a material +37% h/h with data centres now comprising 78% of the total WIP (was 57% pcp). This is driving development yield on costs higher to 8.2% (was 7.5% pcp), as well as margins (not quoted, but GMG is ULIRR aware) and production rate (>$8b pa vs. <$6bn pa FY25).

Goodman shares downgraded

Despite the positives from the result, Bell Potter has become less bullish on the investment opportunity here.

According to the note, the broker has downgraded Goodman shares to a hold rating (from buy) with a reduced price target of $32.65 (from $33.95). This compares to its current share price of $28.78.

Commenting on the downgrade, Bell Potter said:

We downgrade to Hold (was Buy). GMG has a long and rich history in customer and capital partner-focused execution of quality product delivery, and while we continue to expect that to be the case, we do think that FY27 is likely another year of building blocks that requires substantial operating cash outflow with milestones (customer leasing, partnerships, commensurate cash returns on cost) that will take some time to build out amongst a competitive peer set.

We adjust our FY27-FY29 EPS estimates by -1% to 1% to reflect: (1) half year actuals; (2) development WIP / DC capex and returns; and (3) net borrowing gains.

The post Why were Goodman shares just downgraded? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Goodman Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Perpetual Ltd (ASX: PPT) share price is in focus after the company flagged a non-cash impairment charge of A$63.5 million, following a major client redemption in its asset management unit.

What did Perpetual report?

• Non-cash impairment charge of A$63.5 million against goodwill for TSW
• Impairment recognised as a Significant Item in FY26 statutory results
• Redemption of approximately US$4.6 billion from TSW International Equity strategy expected in Q2 FY27
• No impact on Perpetual’s liquidity, banking covenants, or UPAT

What else do investors need to know?

Perpetual received notice last week from a client of Thompson, Siegel & Walmsley LLC (TSW) regarding the planned redemption. Although the redemption will occur in the next financial year, accounting standards require the resulting impairment to be recognised in the FY26 results.

The impairment is non-cash and will not affect Perpetual’s liquidity position or dividend payout ratio, as it doesn’t impact UPAT. The charge also does not affect Perpetual’s compliance with banking covenants.

Perpetual will provide a full update on FY26 results—including the final impact of the impairment—on 27 August 2026.

What’s next for Perpetual?

Looking ahead, investors will be watching for further clarification in Perpetual’s upcoming FY26 results announcement. The company remains due to release audited financial statements and further guidance on 27 August 2026.

Perpetual emphasised that its underlying profit and ability to pay dividends are not affected by this impairment charge. The business continues to focus on its broader asset management strategy and client service.

Perpetual share price snapshot

Over the past 12 months, Perpetual shares have declined 9%, trailing the All Ordinaries Index (ASX: XAO), which is flat over the same period.

View Original Announcement

The post Perpetual reveals $63.5m impairment after major fund redemption appeared first on The Motley Fool Australia.

More reading

• These were the best-performing ASX 200 shares in July
• Perpetual lifts AUM, advances Wealth sale in Q4 FY26 update

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Corporate Travel Management Ltd (ASX: CTD) share price remains suspended but that hasn’t stopped the company announcing that it has reached agreements with 86% of its key impacted UK customers and confirmed the major terms of its customer remediation process.

What did Corporate Travel Management report?

• Secured binding offers from UK customers covering GBP 102 million out of a total estimated GBP 118 million liability
• Will refund GBP 87 million to these customers, with GBP 11 million already paid
• Remaining GBP 76 million to be refunded on a staged basis through to 30 September 2027
• Agreed to pay GBP 12 million to settle further UK contract uncertainties, including GBP 6 million for 1HFY26
• Continues final negotiations with customers accounting for GBP 16 million of the remaining liability

What else do investors need to know?

The company is in advanced talks with lenders to secure financing for both its client remediation obligations and ongoing business needs. These funding arrangements are expected to be announced soon.

These agreements are a significant step forward in resolving historical issues within CTM’s UK operations, helping pave the way for the release of FY25 audited financial statements. Final negotiations with a small number of remaining UK customers are progressing.

What did Corporate Travel Management management say?

Ana Pedersen, Managing Director and Group CEO, said:

Reaching agreements with impacted UK customers representing 86% of the total estimated liability is a major milestone for CTM and reflects our commitment to doing the right thing by customers. These outcomes are the result of months of constructive engagement between CTM, its advisers and affected customers, whose cooperation and support throughout this process has been greatly appreciated.

Importantly, these agreements demonstrate that we can address legacy matters responsibly while continuing to deliver the high-quality service and support our customers rely on for their travel needs. We remain focused on completing the remaining steps required to seek reinstatement of CTM’s shares to trading on the ASX and look forward to updating shareholders on our progress.

What’s next for Corporate Travel Management?

CTM expects to finalise negotiations with the few remaining clients in the coming period, clearing the path to resolving its UK business issues. The company is also seeking to secure new financing and aims for reinstatement of its shares on the ASX once all requirements are met.

Management has indicated it will continue working closely with stakeholders to maintain service quality and restore confidence among its shareholders and clients.

Corporate Travel Management share price snapshot

Over the past five years, the Corporate Travel Management share price has lost 25% of its value.

View Original Announcement

The post Corporate Travel Management updates UK remediation progress and settlement terms appeared first on The Motley Fool Australia.

More reading

• Corporate Travel Management teams up with Amadeus for global tech upgrade
• Corporate Travel Management secures new UK Ministry of Defence contract
• Corporate Travel Management names Ana Pedersen as new CEO

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 Corporate Travel Management. The Motley Fool Australia has positions in and has recommended Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.