My take on P/E Ratio is such:At current price of 30 cents and...

My take on P/E Ratio is such:

At current price of 30 cents and Reported earnings per share for 6 months at 1.7 cents, assuming no increase for second half ie 1.7 cents The total earnings per share for the 12 months equals 3.4 cents.

Therefore the P/E Ratio is 30/3.4 = 8.82
The Sector average is 13.88

If we therefore apply the sector average x/3.4 = 13.88
The Value of x would be 47 cents

My analysis the share is way undervalued .... therefore a Strong Buy IMO.

Does anyone want to contradict me .... please do