Future P/E ratio?

[briantellectual]

Using Scottrade I've noticed some stocks have a chart of earnings that are projected to increase. Their growth rate is also higher than the industry, sector, and S&P averages. The future P/E ratio however decreases to less than all three. Does this reflect the current price divided by the future earnings? Or does it mean that there is something else that they are predicting will happen to cause the P/E to drop?

[wallstreetsedge]

when growth rate increases, the peg ratio will lower...

for your records, heres the formula for peg ratios...

(price/earnings)/annual eps growth