After down 8%, P/E still 28, too expensive, page-61

Ok there has been some PE posts, not sure how they were derived but here goes...

1H17 Basic EPS = 8.5c
FY17 guidance = $165M-$175M (roughly double from 1H17). Assuming margins remain similar, I expect FY17 EPS to be ~17c
Forward FY17 PE @ $3.18 = 18.7x. Methinks that's getting attractive especially for a company with a strong growth record. Couple of things to take note of (lower margin Hansen Solutions which dragged down margins, currency movements and the fact that FY16 was exceptional).
If you believe in the long term growth story (and why wouldn't you) it looks good but current speed bumps and lower growth is part and parcel of a growth company. Might be a year of lower growth and a market re rating but that usually offers a good buying opportunity if you take a long term view (Let's remember it is still growing and it is fairly safe and recurring).