I bought HVN during the march 2020 mayhem.Offloaded the last of...

I bought HVN during the march 2020 mayhem.

Offloaded the last of my holdings a few weeks ago at a price in the high $5's.

Now looking at intelligent long term re-entry points.

I am think of around $4-$4.50 to slowly re-enter the position.

Consensus FY23 EPS is around 42c a share, I notice that this would still represent roughly 20% earnings growth against pre covid FY19 EPS of 35c

Average PE multiple pre covid around 10-11 times.

42c x 10 PE = $4.20
42c x 11 PE = $4.60

Rough rough back of the envelope calculations, but give a rough basis to take a 1st position, from which I can dollar average downwards intelligently if the market gives me the opportunity.

So start buying somewhere $4.00 - $4.50 and gradually buy down to $3 (which was their price back in 2018)
Main reason why share price could drop back to $3's is if the FY23 earnings forecast is too glossy and actual FY23 EPS gravitates closer to 35c, thereby reducing the PE multiple price.