Meaning of the linesl

What is the meaning of the line

"Currently the stock is trading at 18x its FY 21E Earnings’’…

Currently, the stock is valued at 18 times the estimated PE RATIO for the Financial year 2021.

Can u xplain detail pls with example with numbers whether the stock is overvalued or undervalued etc …

What is the PE value and what is the price of stock ?

PE ratio = market price/Earnings Per Share

EPS is generally full year EPS (as year ending on March-19) or trailing 12 months (sum of EPS of last 12 month)

Market price is current market price.

In the example above, line means,
If current market price is divided by estimated EPS of FY21, value we get is 18 (PE).