Based off EPS figures consensus, its trading on 35X 2019. Thats nearly 3 years away numbers. 35X is an earnings yield of...2.85% This would need an earnings yield of atleast 5% 3 years out to get punters interested.
Based off very rough pricing, 16c EPS *20 P/E = $3.20. Add some buffer, say $3.50, where it was trading in january/feb.