Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is Millicom International Cellular (TIGO). TIGO is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. TIGO has a P/S ratio of 0.77. This compares to its industry's average P/S of 1.36.

Finally, our model also underscores that TIGO has a P/CF ratio of 3.16. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 4.31. Over the past year, TIGO's P/CF has been as high as 3.45 and as low as 2.19, with a median of 3.04.

Investors could also keep in mind Turkcell Iletisim Hizmetleri (TKC), an Wireless Non-US stock with a Zacks Rank of # 2 (Buy) and Value grade of A.

Furthermore, Turkcell Iletisim Hizmetleri holds a P/B ratio of 1.24 and its industry's price-to-book ratio is 0.83. TKC's P/B has been as high as 1.53, as low as 0.80, with a median of 1.16 over the past 12 months.

Value investors will likely look at more than just these metrics, but the above data helps show that Millicom International Cellular and Turkcell Iletisim Hizmetleri are likely undervalued currently. And when considering the strength of its earnings outlook, TIGO and TKC sticks out as one of the market's strongest value stocks.

Story Continues

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