I agree it's overvalued on FY18 earnings but believe there's...

I agree it's overvalued on FY18 earnings but believe there's still room for recovery in earnings and on that basis continue to hold. Long term historical averages and management statements underlie this.
So far Crescent have done everything they said too the letter.
Trumps moves have little impact the main thing is how Crescent is spending on the turnaround. I think they can turn the tap on earnings when they choose and reveal the underlying value of the business. The areas trump has opened would have a long lead time from investment decisions to revenue for Cardno.
I had thought that Cardno's main area for PPI was tight oil which has recovered to some extent in the last 6 months.
As far as a trade though I wouldn't know, I expect the shareprice will fluctuate. Ask me in a year or two and I will tell you with the benefit of hindsight.