To project a stock's future price using the Price-Earnings (P/E) ratio, follow these steps:
Determine the P/E Ratio: Use the current or expected P/E ratio for the company.
Estimate Future Earnings Per Share (EPS): Forecast the company's future EPS.
Calculate the Projected Price: Multiply the projected EPS by the P/E ratio.

The formula is:
Expected Return=(P/E Current / PE Future) - 1

This approach estimates the stock price based on anticipated earnings and market valuation.