Investors looking for stocks in the Internet - Content sector might want to consider either Tencent Music Entertainment Group Sponsored ADR (TME Quick QuoteTME - Free Report) or RELX PLC (RELX Quick QuoteRELX - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Both Tencent Music Entertainment Group Sponsored ADR and RELX PLC have a Zacks Rank of # 2 (Buy) right now. This means that both companies have witnessed positive earnings estimate revisions, so investors should feel comfortable knowing that both of these stocks have an improving earnings outlook. But this is just one piece of the puzzle for value investors.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

TME currently has a forward P/E ratio of 14.86, while RELX has a forward P/E of 22.95. We also note that TME has a PEG ratio of 0.59. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. RELX currently has a PEG ratio of 2.34.

Another notable valuation metric for TME is its P/B ratio of 1.99. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, RELX has a P/B of 12.59.

Based on these metrics and many more, TME holds a Value grade of B, while RELX has a Value grade of C.

Both TME and RELX are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that TME is the superior value option right now.