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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company value investors might notice is Orange (ORAN). ORAN is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

We also note that ORAN holds a PEG ratio of 0.49. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ORAN's industry currently sports an average PEG of 0.65. Within the past year, ORAN's PEG has been as high as 0.70 and as low as 0.49, with a median of 0.57.

Another notable valuation metric for ORAN is its P/B ratio of 0.82. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 1. Over the past year, ORAN's P/B has been as high as 0.94 and as low as 0.74, with a median of 0.83.

Another great Wireless Non-US stock you could consider is TeliaSonera (TLSNY), which is a # 2 (Buy) stock with a Value Score of A.

Shares of TeliaSonera are currently trading at a forward earnings multiple of 16.25 and a PEG ratio of 0.31 compared to its industry's P/E and PEG ratios of 6.26 and 0.65, respectively.

Over the last 12 months, TLSNY's P/E has been as high as 24.60, as low as 14.40, with a median of 16.32, and its PEG ratio has been as high as 0.82, as low as 0.26, with a median of 0.34.

Additionally, TeliaSonera has a P/B ratio of 1.75 while its industry's price-to-book ratio sits at 1. For TLSNY, this valuation metric has been as high as 1.76, as low as 1.26, with a median of 1.52 over the past year.