Investors looking for stocks in the Diversified Communication Services sector might want to consider either Telefonica Brasil (VIV Quick QuoteVIV - Free Report) or NTT (NTTYY Quick QuoteNTTYY - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Right now, Telefonica Brasil is sporting a Zacks Rank of #2 (Buy), while NTT has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that VIV has an improving earnings outlook. But this is just one factor that value investors are interested in.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

VIV currently has a forward P/E ratio of 14.81, while NTTYY has a forward P/E of 304.20. We also note that VIV has a PEG ratio of 0.85. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NTTYY currently has a PEG ratio of 54.32.

Another notable valuation metric for VIV is its P/B ratio of 1.25. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, NTTYY has a P/B of 1.47.

These are just a few of the metrics contributing to VIV's Value grade of A and NTTYY's Value grade of C.

VIV sticks out from NTTYY in both our Zacks Rank and Style Scores models, so value investors will likely feel that VIV is the better option right now.