Life as an Aussie investor has been tough during the last month. The ASX has fallen by 5% and it seems that growth is very much off the agenda.
However, there are still a number of companies out there that offer growth at a reasonable price. Indeed, here are three that after significant falls during the last month, now trade at even more appealing price levels and continue to have impressive medium term prospects.
Origin Energy Ltd
With earnings growth of 32.2% per annum pencilled in over the next two years, Origin Energy Ltd (ASX: ORG) is a very attractive growth play. Of course, shares in the company inevitably trade at a premium to the wider market as a result of their impressive growth potential. For instance, shares in Origin command a P/E ratio of 22.5 versus 15.3 for the ASX.
However, with Origin having a price to earnings growth (PEG) ratio of just 0.7, there seems to be a lot of value in the current price. Furthermore, with dividends per share set to increase by 18.3% per annum over the next two years, it could be set to yield as much as 4.7% in FY 2016.
Oil Search Limited
Oil and gas exploration company, Oil Search Limited (ASX: OSH) could be on the cusp of a purple patch. Indeed, the company is forecast to increase earnings by an incredible 88.5% per annum over the next two years as increased production from projects such as the PNG LNG operation comes on-stream.
This means that, while Oil Search has a rich P/E ratio of 23.8, its PEG ratio remains hugely appealing at just 0.27. As a result, it could prove to be a top notch growth play over the next couple of years.
Crown Resorts Ltd
More modest growth is pencilled in for Crown Resorts Ltd (ASX: CWN) over the next couple of years. The gaming and entertainment company is expected to grow the bottom line at an annualised rate of 10.5% over the next two years. With shares in the company trading on a P/E ratio of 15.6, this generates a PEG ratio of 1.48, which is relatively attractive.
With the company continuing to have considerable long-term growth potential from its sites in Asia, as well as its share price dipping by 10% over the last month, now could prove to be a great time to add Crown Resorts to Foolish portfolios.
