It’s been an encouraging start to this Thursday’s trading for the S&P/ASX 200 Index (ASX: XJO). At the time of writing, the ASX 200 has advanced a confident 0.26% and is back over 9,070 points. Things aren’t so rosy for Fortescue Ltd (ASX: FMG) shares, though.

Fortescue is having a day to forget. At the time of writing, the big mining stock has retreated by 0.47% to $17.98 a share. That’s after closing at $18.06 yesterday.

It seems investors were not impressed by the miner’s latest earnings, which became public this morning before market open.

As we covered earlier today, there were still a few decent numbers in that report. For the 12 months to 30 June 202, Fortescue reported revenue growth of 9% to US$17 billion. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 9% to US$8.6 billion, while underlying net profits after tax (NPAT) were up 3% to US$3.5 billion.

But let’s talk about the latest Fortescue dividend. After all, many ASX investors own this miner purely for its dividend prowess, which has been formidable in the past.

What does the new Fortescue dividend look like?

So, this morning, Fortescue announced that its final dividend for 2026 would come in at 46 cents per share. As is almost always the case with this miner’s payouts, this payment will come with full franking credits attached. This latest final dividend represents a significant reduction (23.3% to be precise) from the 60 cents per share final dividend that investors enjoyed last year.

It means Fortescue will dole out a total of $1.02 per share in fully franked dividends in 2026, a 2-cent drop over the $1.04 that shareholders bagged over 2025. That was assisted mightily by the fact that the company’s interim dividend from March (worth 62 cents per share) was a hefty hike over 2025’s interim payout of 50 cents.

Fortescue has nominated 1 September as this latest payout’s ex-dividend date. So investors have until the close of trading on 31 August to secure Fortescue shares if they wish to receive this payout.

Payday will then roll around on 29 September next month. Fortescue is running its dividend reinvestment plan (DRP) too. So if eligible shareholders wish to receive additional Fortescue shares in lieu of the traditional cash payment, they have until 3 September to opt in to the DRP.

Right now, Fortescue shares are trading on a trailing dividend yield of 6.79%. However, now that we know what Fortescue’s next payout will look like, we can assign a lower forward yield of 5.67% to its shares.

The post Everything you need to know about the new Fortescue dividend appeared first on The Motley Fool Australia.

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• Why is the Fortescue share price on a rollercoaster today?
• Fortescue hits new records in FY26: profit up, dividends flow
• How much passive income could I earn from a $630,000 superannuation balance?
• How much do I need in my superannuation to earn $50,000 per year in passive income?
• Reporting season half-time report: 5 lessons from August so far

Motley Fool contributor Sebastian Bowen 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.

Coles Group Ltd (ASX: COL) is one of those ASX shares that can be easy to overlook because the underlying business is so familiar.

Australians keep turning up for groceries each week, while Coles has spent years investing in how those groceries are moved, picked, and delivered.

With the shares trading around $23.17 on Thursday, does the current price still offer good value?

The shares carry a premium

According to CommSec, consensus earnings per share estimates stand at 90 cents in FY26, 96.6 cents in FY27, and $1.12 in FY28.

At the current share price, that puts Coles on a PE ratio of roughly 26 times forecast FY26 earnings.

I would certainly describe that as a premium valuation for a supermarket operator.

But I think looking only at the FY26 multiple misses an important part of the story.

Analysts are expecting earnings per share to increase by around 7% in FY27 before accelerating further in FY28. By then, forecast earnings would be almost 25% higher than in FY26.

If Coles delivers that growth, today’s valuation begins to look considerably more reasonable.

Using consensus estimates, its PE ratio would fall to 24 times in FY27 and around 21 times in FY28.

Where could that growth come from?

One reason I am comfortable with the forecasts is that Coles has already spent heavily on improving its operations.

Its automated distribution centres are designed to make replenishing stores more efficient, while its automated customer fulfilment centres are helping the company handle online grocery orders at greater scale.

These investments are now moving beyond the expensive implementation stage. Coles said at its half-year result that supermarket earnings benefited from the annualised contribution from its automated distribution centre program as well as the absence of major implementation and transition costs.

I think Coles is now in a better position to reap the benefits of that spending.

Coles does not need dramatic growth in grocery demand to increase earnings. Making an enormous existing business more efficient can have a meaningful impact when those improvements are spread across its store and supply chain network.

Online shopping provides another avenue. The investments Coles has made in fulfilment should allow it to serve more customers in the way they want to shop while improving the economics of that channel over time.

Dividends could grow as well

The consensus dividend forecasts are also moving in the right direction.

The market expects dividends per share of 75.5 cents in FY26, 82 cents in FY27, and 95.3 cents in FY28.

At the current price, these payouts represent dividend yields of 3.2%, 3.5%, and 4.1%.

I like that progression because it gives shareholders another way to benefit if the expected earnings growth comes through.

One thing to keep in mind

Investors will not have to wait long for an important update.

Coles is scheduled to release its FY26 results on 25 August.

That result could change analyst forecasts and therefore the valuation calculations above. I would pay particular attention to what management says about the benefits from automation, costs, consumer behaviour, and the outlook for the year ahead.

Foolish takeaway

I think the Coles share price offers reasonable value at around $23.17.

The shares are clearly priced at a premium, but I believe the expected earnings growth helps justify it. If earnings per share reach around $1.12 in FY28, the multiple investors are paying today comes down significantly without requiring the share price to do anything.

With a major result only days away, there could be some short-term movement ahead. But for investors looking several years into the future, I think Coles remains a share worth buying.

The post Is the Coles share price good value? appeared first on The Motley Fool Australia.

More reading

• 3 ASX shares I’d buy if I could only check my portfolio once a year
• Reporting season half-time report: 5 lessons from August so far
• How to build a strong ASX retirement portfolio with 10 shares
• 7 ASX 200 shares downgraded by the experts this week
• 2 ASX blue-chip shares offering big dividend yields

Motley Fool contributor Grace Alvino 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.

The ASX reporting season continued in full swing on Thursday, with many more businesses posting their FY26 results. Among some of the biggest names are Zip Co Ltd (ASX: ZIP), APA Group Ltd (ASX: APA) and Dexus (ASX: DXS).

Let’s recap how the shares are tracking today and whether brokers rate them a buy, sell or hold.

Buy Zip shares

Zip posted a huge 57.9% increase in its cash EBTDA, a 24.7% increase in total revenue, and a 45.7% hike in its NPAT for FY26.

The company expects its cash EBTDA to climb even higher in FY27, by around 26% thanks to strong growth and greater scale across the business.

The announcement has been well received by investors who are rushing to snap up the buy now, pay later (BNPL) provider’s shares this morning.

At the time of writing, Zip shares are up a huge 17% and changing hands for $3.02 a piece. Today’s increase means the shares are now just 10% lower for the year-to-date and are just 0.5% below trading levels seen this time last year.

Experts are incredibly bullish about the outlook for Zip shares too. 

TradingView data shows all 13 analysts have a buy/strong buy rating on the shares. The average $4.19 target price implies a 40% upside ahead, at the time of writing. Although some are confident that Zip shares can climb another 88% to $5.59 within the next 12 months.

Hold APA shares

APA reported an 8.3% increase in underlying EBITDA as part of its FY26 results this morning, surpassing guidance. 

The company also announced a 3.2% increase in its free cash flow and 1.9% uplift in statutory revenue (excluding pass-through), and a 81.4% jump in statutory net profit.

APA is also guiding a higher underlying EBITDA of between $2,260 million and $2,340 million for FY27.

The news seems to have sat well with investors, but there isn’t a significant shift in the share price at the time of writing. APA shares are up around 1% for the day so far, and trading at $10.18 a piece. The shares are now around 13% higher for the year-to-date and 16% higher than a year ago.

It looks like the shares could now be around fair value, however. 

TradingView data shows sentiment is split between a hold and sell rating on APA shares. The average $9.45 target price implies a potential 7% downside at the time of writing.

Buy Dexus shares

Dexus reported adjusted funds from operations (AFFO) of $483.9 million and distributions of 37.0 cents per security, both matching previous guidance, as part of its FY26 results this morning.

Statutory net profit after tax was $482.2 million, and gearing remained at the lower end of the group’s target range.

For FY27, Dexus expects reduced earnings due to lower performance fees, an immaterial contribution from trading profits, and a smaller contribution from funds under review.

It looks like investors are disappointed with the results. At the time of writing, Dexus shares are down around 2.5% and changing hands for $5.66 a piece.

The shares are now down 19% for the year-to-date and are 24% lower than this time last year.

At the time of writing, the experts are still bullish that we could see a rebound from Dexus shares this year. But it’s possible that some may revisit their positions over the coming days following the company’s results announcement.

TradingView data shows that the majority currently have a buy/strong buy stance on Dexus shares. The average $6.55 target price implies a potential 15% upside at the time of writing.

The post Buy, sell, hold: Dexus, APA, Zip shares appeared first on The Motley Fool Australia.

More reading

• Why Megaport, Northern Star and Zip shares are turning heads on Thursday
• Dexus delivers steady FY26 results, maintains distributions, and advances strategy
• Zip Co reports record FY26 earnings and outlines growth strategy
• APA Group FY26 delivers strong earnings, pipeline expansion, and 22nd annual dividend increase
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Samantha Menzies 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 positions in and has recommended Apa Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.